VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 30, 2013) - Skyharbour Resources Ltd. (TSX VENTURE:SYH)(PINKSHEETS:SYHBF) (the "Company") announces that further to its news release dated August 19, 2013, it has closed its non-brokered private placement (the "Private Placement") for an additional $75,000 by the issuance of 937,500 flow-through units (the "FT Units") of the Company at an issuance price of $0.08 per FT Unit. Each FT Unit will consist of one flow-through common share (the "FT Share") and one non-transferable non flow-through warrant (the "NFT Warrant"). Each NFT Warrant will entitle the holder to purchase one non flow-through common share of the Company at a price of $0.10 until August 29, 2015.
Pursuant to the Private Placement, Mr. William Trimble of West Vancouver, BC acquired ownership of 937,500 flow-through units for the aggregate consideration of $75,000. Following the acquisition, Mr. Trimble has ownership and control over 4,377,550 common shares of the Company representing 10.41% of the Company's issued and outstanding shares and 4,377,500 share purchase warrants representing 18.9% (assuming exercise of the 4,377,500 share purchase warrants). Mr. Trimble acquired the shares for investment purposes and, as disclosed in the Early Warning Report, may in the future acquire or dispose of securities of the Company through the market, privately or otherwise, as circumstances or market conditions warrant.
The Early Warning Reports filed with the applicable securities regulators regarding the above acquisitions are available on SEDAR (www.sedar.com).
The FT Shares and any shares to be issued upon exercise of the warrants will be subject to a four month hold restriction until December 30, 2013.
There was no finder's fee paid in connection with the Private Placement.
Skyharbour Resources intends to utilize the additional proceeds from the private placement for the continuing exploration program on its Athabasca Basin, Saskatchewan uranium properties. With a recent financing that closed August 15th, Skyharbour has $1.3 million in its treasury and is fully financed to meet its work obligations.
About Skyharbour Resources Ltd.:
Skyharbour Resources Ltd. is a uranium exploration company and a member of the Western Athabasca Syndicate which controls a large, geologically prospective land package consisting of five properties (709,513 acres) in the Athabasca Basin of Saskatchewan. The Company's goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favorable jurisdictions. The Company has 42.6 million shares outstanding.
To find out more about Skyharbour Resources Ltd. (News - Market indicators) visit the Company's website at www.skyharbourltd.com.
ON BEHALF OF THE BOARD OF DIRECTORS
James G. Pettit, Director, Chairman of the Board
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 statements 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 development 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.
