Skyharbour Resources Announces Flow-Through Private Placement

Skyharbour Resources Ltd. (TSXV:SYH) announced that it has arranged a non-brokered private placement to raise up to $400,000 through the issuance of 8,000,000 flow-through units at a price of $0.05 per unit. Each unit will be comprised of one flow-through common share and one non flow-through common share for five years at an exercise price of $0.10 per warrant share.

As quoted in the press release:

All the securities issuable will be subject to a four-month hold period from the date of closing and the private placement is subject to the approval of the TSX Venture Exchange.

Skyharbour’s insiders plan to subscribe for up to $200,000 of the flow through financing for a total of 4 million FT Units. An insider who is neither a director nor an officer of the company has sold 3 million shares to an arms-length institutional investor and will use all of the proceeds from this sale to participate in this financing.

Skyharbour Resources intends to utilize the proceeds from this private placement for its continuing exploration programs on its Athabasca Basin, Saskatchewan uranium properties including additional field work at its 100% owned Falcon Point Uranium Project as well as at the Preston Uranium Project proximal to Fission Uranium and NexGen Energy’s high-grade discoveries.

Click here to read the full Skyharbour Resources Ltd. (TSXV:SYH) press release.