09:21 AM EDT, 05/02/2024 (MT Newswires) -- Standard Uranium ( STTDF ) on Thursday said that given the current strength in the global uranium sector and uranium's increasing importance as a green energy source that the timing is right to return to drill the company's flagship Davidson River project.

The board of directors approved a $3 million non-brokered private placement to fund the program, conditional upon the completion of the continuation of the company into British Columbia and a consolidation of the outstanding share capital of the company on a one-for-five basis.

The Offering will consist of any combination of units of the company at a price of $0.25 per unit, and charity flow-through units of the company at a price of $0.38 per CFT unit. Each Unit will consist of one post-consolidation common share and one-half of one common share purchase warrant.