Stearman Resources Announces First Tranche Closing of Non-Brokered Private Placement
VANCOUVER, November 14, 2025 - Stearman Resources Inc. (CSE: STMN) ("Stearman" or the "Company") is pleased to announce that it has closed the first tranche (the "First Tranche") of its previously announced non-brokered private placement (the "Offering"). Under the First Tranche, the Company issued an aggregate of 10,000,000 non-flow-through units ("NFT Units") at a price of $0.15 per NFT Unit for gross proceeds of $1,500,000.
Each NFT Unit consists of one common share (a "Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Share at a price of $0.30 for a period of twenty-four (24) months from the date of issuance.
The securities issued under the First Tranche are subject to a statutory hold period of four (4) months and one (1) day from the date of issuance in accordance with applicable securities laws.
In connection with the First Tranche, the Company paid aggregate cash finder's fees totaling $49,500, further finder's fees of $12,500 paid by the issuance of 81,000 finder's shares at $0.15 each, and 411,000 non-transferable finder's warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder to acquire one Share at a price of $0.30 for a period of twenty-four (24) months from the date of issuance.
The net proceeds from the First Tranche will be used for general working capital and corporate purposes.
"We're very pleased with the strong investor support shown in the first tranche," said Lester Esteban, CEO of Sterman Resources. "This financing marks an important step forward as we continue to advance our corporate objectives and position Stearman for growth in the months ahead."
The securities issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About Stearman
The Company is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and the USA. The Company currently owns a 100% interest in the NeoCore Uranium Property consisting of 6 mineral claims covering 13,012 hectares, located in the Athabasca Basin in northern Saskatchewan. The Company further holds an option for up to a 70% interest in the Murphy Lake Uranium Property, consisting of 609 hectares also located in the Athabasca Basin in northern Saskatchewan, and also owns a 100% interest in the Zoo Bay Uranium Property consisting of 15 mineral claims covering 19,850 hectares, also located in the Athabasca Basin.
On Behalf of Stearman Resources Inc.
Lester Esteban, CEO
Contact:
Stearman Resources Inc.
Howard Milne, President
Email: hdmcap@shaw.ca
Telephone: (604) 377-8994
Website: www.stearmanresources.com
Forward Looking Statements
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws. All statements in this release, other than statements of historical fact, that address events, conditions, or developments the Company expects or anticipates may occur, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: the completion of any additional tranches of the Offering, including the anticipated second tranche; the terms and size of the second tranche; the potential issuance of flow-through units in subsequent closings; the intended use of proceeds from the First Tranche; and the Company's exploration and development plans. Forward-looking statements are often identified by words such as "expects", "plans", "anticipates", "intends", "believes", "estimates", "projects", "potential", or variations of such words, and phrases such as "may", "could", "would", "should", or "will" occur. Although the Company 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 may differ materially from those expressed or implied in the statements. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated, including, but not limited to: the Company's ability to complete subsequent tranches of the Offering as currently proposed or at all; market conditions; commodity price volatility; exploration risks; regulatory approvals; and other risks described in the Company's public disclosure documents available on SEDAR+ at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update or revise any forward-looking information except as required by applicable securities laws.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
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