Business
F3 Announces Closing of Private Placement for Aggregate Gross Proceeds of C$20 Million
Kelowna, British Columbia--(Newsfile Corp. - September 12, 2023) - F3 Uranium Corp. (TSXV: FUU) ...
About this update from F3 Uranium Corp
[{"type":"text","content":"F3 Announces Closing of Private Placement for Aggregate Gross Proceeds of C$20 MillionKelowna, British Columbia--(Newsfile Corp. - September 12, 2023) - F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (\"F3 Uranium\" or the \"Company\") is pleased to announce the closing of its previously announced \"bought deal\" private placement for aggregate gross proceeds of C$20 million (the \"Offering\"). Under the Offering, the Company sold 41,237,113 flow-through units of the Company (each, a \"FT Unit\"), which included the full exercise of the Underwriters' over-allotment option, at a price of C$0.485 per FT Unit.Red Cloud Securities Inc. acted as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters that included Haywood Securities Inc., SCP Resource Finance LP and Eight Capital (collectively, the \"Underwriters\").Each FT Unit consists of one common share of the Company (each, a \"Common Share\") issued as a \"flow-through share\" within the meaning of the Income Tax Act (Canada) (each, a \"FT Share\") and one half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each whole Warrant shall entitle the holder to purchase one Common Share (a \"Warrant Share\") at a price of C$0.485 per Warrant Share at any time on or before September 12, 2025.The expenditures to be renounced in respect of the Common Shares comprising the FT Units will be used for \"Canadian Exploration Expenses\" (within the meaning of the Income Tax Act (Canada)) (the \"Tax Act\") and will qualify as \"flow-through critical mineral mining expenditures\" as defined in subsection 127(9) of the Tax Act and a \"flow-through mining expenditure\" as defined in paragraph 2(2)(d) of The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan) (the \"Qualifying Expenditures\"). The Qualifying Expenditures will be renounced to the purchasers of the FT Units with an effective date no later than December 31, 2023. The FT Units were sold by way of the \"accredited investor\" and \"minimum amount investment\" exemptions under National Instrument 45-106 - Prospectus Exemptions in certain provinces of Canada. The securities issued pursuant to the Offering are subject to a four-month and one day hold period ending on January 13, 2024. In connection with the Offering, the Company paid to the Underwriters an aggregate cash commission o...