Strathmore Announces $500,000 Convertible Note
Kelowna, British Columbia--(Newsfile Corp. - January 19, 2022) - Strathmore Plus Energy Corp. (TSXV: SUU.H) (OTC Pink: SUUFF) ("Strathmore Plus" or "the Company") is pleased announce that it has raised $500,000 from the issuance of a convertible note to RD Capital Inc, a company held by an insider (the "Convertible Note"). The Convertible Note matures in 12 months and bears interest of i) 6% per annum to maturity. The Convertible Note is convertible into common shares of Strathmore Plus on maturity at the holder's option at $0.30 per share and ii) Interest accrued on the Convertible Note may be paid in shares at the election of the holder, but will be subject to TSXV approval at the time of such election, including approval of conversion pricing.
Proceeds of the Note will be used for exploration of the Company's Wyoming Uranium claims and for working capital purposes. The Company intends to repay the loans by means of future private placement financings.
The Company further notes that its current issued and outstanding share total is 21,751,937.
About Strathmore Plus Energy Corp.
Strathmore Plus is a uranium exploration company, focused on in-situ recoverable uranium deposits in the State of Wyoming.
Strathmore Plus Energy Corp.
Telephone: 1 888 882 8177
ON BEHALF OF THE BOARD
Dev Randhawa, CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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