StraightUp Resources Closes Second Tranche of $2.0 Million Financing
Vancouver, British Columbia--(Newsfile Corp. - September 28, 2021) - StraightUp Resources Inc. (CSE: ST) ("StraightUp" or the "Company") is pleased to announce that it has closed the second tranche of its financing previously announced on September 3, 2021. The Company has raised $588,000 through the issuance of 2,940,000 units of the Company (the "Units") at $0.20 per Unit. Each Unit consisted of one common share of the Company (each, a "Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share at $0.30 per Share for a period of 24 months from the date of issuance. The Company paid eligible finders finder's fee of $41,160 and issued to eligible finders 205,800 finder's warrants. Each finder's warrant entitles the holder thereof to acquire one Share at $0.30 for a two-year term. The Shares, Warrants and finder's warrants are subject to a four-month hold period.
About StraightUp Resources
StraightUp is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic, precious and base metal properties of merit. StraightUp intends to conduct exploration on the RLX North, RLX South, Belanger and the Ferdinand Gold Property, all located in the Red Lake Mining Division, as well as the recently acquired Bear Head Gold Project, located within the Meen-Dempster Greenstone Belt of the Uchi Subprovince, approximately 80km west of the Pickle Lake Gold Camp. The Company's newest acquisition, the West Cat Mine, includes an unpatented lode mining claim on federal land in the historic Beatty Mountain Nevada Mining District in Nye County, Nevada. The West Cat Mine is part of a 20.66-acre land package discovered in the early years of the Bullfrog mining boom and provides an area ready for large scale operations to come.
On Behalf of the Board of Directors
Mark Brezer Chief Executive Officer, President and Director
For further information, please contact:
Chief Executive Officer, President and Director
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