Skyharbour Announces Brokered Private Placement for Gross Proceeds of up to C$8.5 Million
Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. This brokered private placement will allow Skyharbour to generate gross proceeds of up to C$8.5 million. The private placement will consist of a combination of units of the company at a price of C$0.16 per unit.
Each unit offered in the private placement will consist of one common share of Skyharbour and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share of the company at a price of C$0.25 for a period of 24 months following the closing of the private placement.
Skyharbour Resources Ltd. intends to use the net proceeds from the private placement for exploration and general working capital purposes. The company currently holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin, a region known for its high-grade uranium deposits. With the funds raised through this private placement, Skyharbour will be able to further advance its exploration activities and leverage the expertise of its team to unlock the potential of its projects.
Skyharbour’s management team and board of directors are excited about this opportunity to raise additional capital through the private placement. The company’s CEO, Jordan Trimble, expressed his confidence in the support from investors and the underwriters as Skyharbour continues to pursue its strategic objectives in the uranium sector.
The offering is expected to close on or about the week of March 1, 2021, subject to customary closing conditions and regulatory approvals. Stock options may be granted to the underwriters of the private placement, allowing them to purchase additional units of the company.
In conclusion, Skyharbour Resources Ltd.’s brokered private placement for gross proceeds of up to C$8.5 million marks a significant milestone for the company as it seeks to strengthen its position in the uranium exploration sector. The successful completion of this private placement will provide Skyharbour with the necessary funding to advance its projects and create value for its shareholders.