VANCOUVER, B.C., Oct. 03, 2017 (GLOBE NEWSWIRE) -- Senator Minerals Inc. (SNR.V) (SNRAF) (T1KA.F) (“Senator” or the “Company”) is pleased to announce that due to strong market interest, it has increased the pricing of its previously announced financing by approximately 20%, from $1.60 to $1.90 per share. The Company intends to issue 2,631,579 common shares for gross proceeds of $5,000,000.
Proceeds of the private placement will be used to conduct the Company’s ongoing exploration program, including the Company’s Winter 2017/18 proposed work program on both the Company’s Patterson Northeast (PNE) and Carter Lake Uranium Projects, possible strategic property acquisitions, and general working capital. All common shares issued in connection with the financing will be subject to a four-month-and-one-day statutory hold period.
About Senator Minerals Inc.
Senator Minerals is a junior mineral explorer focused on uranium exploration in northern Saskatchewan. Senator has the rights to 100-per-cent interest in both the Patterson Northeast (PNE) and Carter Lake Uranium Projects, located on the east side of the Athabasca basin, the most productive uranium-producing region in the world. The PNE Project covers approximately 531 hectares, directly adjoining the easternmost boundary of Fission 3.0's Patterson Lake North (PLN) project. The PNE Project was last explored in 2013 with an Alpha-Track radon cup survey, and in June, 2014, with a 5.7-line-kilometre DC resistivity survey, the latter performed by Patterson Geophysics. The Carter Lake Uranium Project lies near the eastern edge of the Clearwater Domain, approximately 21 kilometers northeast of the Patterson Lake property, held by Fission Uranium Corp.
For further information contact Tim Fernback at 604-340-3774.
Tim Fernback
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Information provided in this document is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in the Company’s most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.