12:23 PM EDT, 08/20/2025 (MT Newswires) -- Stallion Uranium ( STLNF ) on Wednesday said it closed a first tranche of a non-brokered private placement of common and flow-through share units.

The company said the offering consisted of 21.2-million units at $0.20 per common-share unit for $4.2 million and 1.3-million flow-through units at $0.20 per FT unit for $263,000. Each FT unit consists of one flow-through share and a five-year warrant to buy a share for $0.26, and each NFT unit consists of one non-flow-through common share and one five-year warrant to buy a share for $0.26.

Stallion Uranium ( STLNF ) also increased the size of the offering from up to $12 million to up to $15 million. It anticipates completing a second closing of the offering on or before August 30.

The upsized offering will consist of up to a combined aggregate of 75-million FT units and NFT units. Proceeds raised from the issuance of the FT units will be used to incur exploration expenditures on its resource claims in the province of Saskatchewan and will constitute "Canadian exploration expenses".

Proceeds raised from the issuance of the NFT units will be used for exploration and development activities of its Athabasca Basin properties and for working capital and general corporate needs.

Shares of the company were last seen up $0.005 to $0.215 on the TSX Venture Exchange.

Price: 0.22, Change: +0.01, Percent Change: +2.38