Skyharbour Resources (TSX-V:SYH) has closed a non-brokered private placement of C$2.1 million ($2.28 million) which will be used for an upcoming exploration campaign in 2026 at the Russell Lake and Moore Lake uranium projects in Canada.
As part of the placement, 5.06 million flow-through (FT) shares at C$0.415 per FT share were issued.
One Skyharbour director subscribed for an aggregate 250,000 shares for C$103,750.
As previously reported, Skyharbour recently formed a major joint venture deal, after entering into a definitive repurchase agreement with Denison Mines Corp (TSX:DML) representing a combined total of up to C$61.5 million ($67.5 million).
Denison will acquire an initial project interest in the Russell Lake Uranium Project, located in the Athabasca Basin, which Skyharbour recently agreed to acquire an 100% interest in, as Mining.com.au reported.
Haywood Securities acted as financial advisor to Skyharbour, while AFG Law and DuMoulin Black acted as legal counsel.
The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,314 hectares. The Moore Lake Project, covering 35,605 hectares, is an advanced exploration-stage asset in the eastern Athabasca Basin.
Write to Aaliyah Rogan at Mining.com.au
Images: Skyharbour Resources
