SKRR Exploration Closes $1.2 Million Financing

SKRR Exploration (TSXV: SKRR) has closed a private placement just five days after announcement. The financing, conducted at $0.25 per unit, saw gross proceeds of $1.2 million raised, which will be put towards an aggressive exploration program within Northern Saskatchewan in the Trans Hudson Corridor.

The financing, price at $0.25 per unit, saw a total of 4,701,000 units of the company sold. Each unit consisted of one common share and one half of a common share purchase warrant. The warrants have an exercise price of $0.50, and are valid for a period of 18 months from the date of issuance.

Insiders also participated in the financing to a small degree, with 500,000 units being acquired by members of management.

"I would like to thank all new and existing shareholders for their continued support. Closing this financing has placed SKRR in a strong position to push forward with an aggressive exploration program in Saskatchewan within the Trans Hudson Corridor. This oversubscribed financing allows us to not only complete our previously announced drill program which will commence within weeks, but it is further anticipated that efforts will be expanded on all fronts thereafter."

Proceeds from the financing will be used for exploration expenditures on the firms Saskatchewan exploration projects, corporate development, and general working capital.

SKRR Exploration last traded at $0.33 on the TSX Venture.

FULL DISCLOSURE: SKRR Exploration is a client of Canacom Group, the parent company of The Deep Dive. The company has been compensated to cover SKRR Exploration on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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