Skyharbour Closes Oversubscribed $1.82 Million Private Placement
Suite 1610 – 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.skyharbourltd.com
TSX-V Trading Symbol: SYH
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
December 2nd, 2019
NEWS RELEASE
Skyharbour Closes Oversubscribed $1.82 Million Private Placement
Vancouver, BC - Skyharbour Resources Ltd . (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt:
SC1P) (the “Company”) is pleased to announce it has closed a non-brokered private placement
financing for total gross proceeds of CAD $1,823,933.25 (the “Private Placement”). The Company
has allotted and issued 7,313,499 units (the “ Units”) at a price of CAD $0.15 per Unit and
4,038,380 flow-through units (the “FT Units”) at a price of CAD $0.18 per FT Unit.
Each Unit is comprised of one common share and one warrant (“Warrant”). Each FT Unit is
comprised of one flow-through common share and one-half of one Warrant. Each Warrant will
entitle the holder to purchase one additional common share for a period of three (3) years at a
price of CAD $0.22 per share. In addition, the Company has paid finder’s fees totaling $51,225.59
and issued an aggregate 250,837 finder’s warrants (the “ Finders Warrants ”) to arm’s -length
parties. Each Finders Warrant is exercisable into one common share for a period of up to three
(3) years at a price of CAD $0.22.
The Company intends to use the proceeds from this Private P lacement for exploration and
upcoming drilling as well as for general working capital purposes. The Private P lacement is
subject to final TSX Venture Exchange (“Exchange”) approval and all securities issued are subject
to a four-month-and-one-day hold period.
A portion of the Private Placement constitutes a “related party transaction” within the meaning of
Exchange Policy 5.9 and Multilateral Instrument 61-101 -Protection of Minority Security Holders
in Special Transactions (“MI 61-101”) adopted in the Policy. The Company has relied on
exemptions from the formal valuation and minority shareholder approval requirements of
MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of rela ted party
participation in the Private Placement.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's
Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals
with six drill -ready projects . Skyharbour has acquired fr om Denison Mines, a large strategic
shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15
2
kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's
McArthur River uranium mine. Moore is an advanced stage uranium exploration property with
high grade uranium mineralization at the Maverick Zone with drill results returning up to 6.0%
U3O8 over 5.9 metres including 20.8% U 3O8 over 1.5 metres at a vertical depth of 265 metres.
Skyharbour has sig ned option agreements with Orano Canada Inc. and Azincourt Energy
whereby Orano and Azincourt can earn in up to 70% of the Preston Project through a combined
$9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and
Azincourt shares. Preston is a large, geologically prospective property proximal to Fission
Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. The Company also owns
a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which
contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million
pounds of ThO2 at 0.023%. The Company's 100% owned Mann Lake Uranium project on the east
side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by
Cameco, where high-grade uranium mineralization was recently discovered. Skyharbour's goal is
to maximize shareholder value through new mineral discoveries, committed long -term
partnerships, and the advancement of exploration projects in geopolitically favourable
jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/SYH_Landpackage_2014.jpg
To find out more about Skyharbour Resources Ltd. (TSX -V: SYH) visit the Company’s website
at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
Jordan Trimble
President and CEO
For further information contact myself at:
Telephone: 604-639-3856
Or:
Simon Dyakowski
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-639-3850
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS
NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward -looking statements". All
statements in this release, other than statements of historical facts, that address events or developments
that management of the Company expects, are forward -looking statements. Although management
believes the expectations expressed in such forward -looking statem ents are based on reasonable
assumptions, such statements are not guarantees of future performance, and actual results or
developments may differ materially from those in the forward-looking statements. The Company undertakes
no obligation to update these forward-looking statements if management's beliefs, estimates or opinions,
or other factors, should change. Factors that could cause actual results to differ materially from those in
forward-looking statements, include market prices, exploration and develo pment successes, continued
availability of capital and financing, and general economic, market or business conditions. Please see the
public filings of the Company at www.sedar.com for further information.
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