Standard Uranium Announces Davidson River Drill Program Private Placement for Up to C$3.0 Million & Share Consolidation - Seite 2

Red Cloud Securities Inc. has agreed to act as a finder for the Company in connection with the Offering. The Company will pay finders’ fees to eligible parties who have assisted in introducing subscribers to the Offering. All securities issued in connection with the Offering will have a hold period of four months and one day from the closing date. Completion of the Offering, Continuation and Consolidation remain subject to the approval of the TSX Venture Exchange. Completion of the Offering is contingent on completion of the Continuation and the Consolidation.

Continuation

As approved by shareholders at the annual general and special meeting (the “Meeting”) held on March 26, 2024, the Company intends to continue its corporate existence from the Canada Business Corporations Act to the Business Corporations Act (British Columbia). The Continuation is intended to reduce operating costs and better align the jurisdiction of incorporation with the location of management and the head office of the Company.

The Continuation will not result in the formation of a new legal entity, nor will it affect the continuity of the Company or result in any change its operational activities or assets. For further information regarding the Continuation, and a comparison of the provisions of the Canada Business Corporations Act and the Business Corporations Act (British Columbia), readers are encouraged to review the management information circular prepared by the Company in connection with the Meeting, a copy of which is available under the profile for the Company on SEDAR+ (www.sedarplus.ca).

Share Consolidation

In connection with the Offering, the Company intends to complete the Consolidation to increase flexibility and competitiveness in the market, and to make the Company’s securities more attractive to a wider audience of potential investors.

As a result of the Consolidation, the Company’s currently issued and outstanding 230,649,292 common shares will be reduced to approximately 46,129,859 common shares prior to completion of the Offering. No fractional common shares will be issued as a result of the Consolidation. Instead, any fractional common shares will be rounded down to the nearest whole number of common shares. In accordance with the Articles of the Company adopted in connection with the Continuation, the Consolidation does not require approval of the shareholders of the Company.