Stuhini Exploration Ltd. (TSXV: STU) recently announced its plan to offer a non-brokered private placement to raise $2.3 million in gross proceeds.
Under the agreement, Stuhini Exploration will be offering 2.0 million flow-through shares at $0.65 per share and 2.0 million non-flow-through shares at $0.50 per share. No warrants are included under the offering.
The proceeds from the offering of the flow-through shares are expected to fund exploration programs on Stuhini Exploration’s Ruby Creek property in British Columbia. On the other hand, the proceeds of the non-flow-through shares offering are intended to fund exploration programs on its mineral properties, including its Que property and South Thompson Nickel project, as well as general and administrative expenses.
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The offering is still subject to regulatory and customary approvals.
Stuhini Exploration Ltd. last traded at $0.60 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
