Business
F3 Announces Closing of Private Placements for Aggregate Gross Proceeds of C$12 Million
Kelowna, British Columbia--(Newsfile Corp. - May 26, 2023) - F3 Uranium Corp. (TSXV: FUU) (OTCQB...
About this update from F3 Uranium Corp
[{"type":"text","content":"F3 Announces Closing of Private Placements for Aggregate Gross Proceeds of C$12 MillionKelowna, British Columbia--(Newsfile Corp. - May 26, 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 (the \"Brokered Private Placement\") and non-brokered private placement (the \"Non-Brokered Private Placement\", together with the Brokered Private Placement, the \"Offering\") for aggregate gross proceeds of C$12.0 million. Collectively, the Company sold 25,531,915 flow-through units of the Company (each, a \"FT Unit\") at a price of C$0.47 per FT Unit (the \"Offering Price\").Under the Brokered Private Placement, the Company sold 21,276,596 FT Units at the Offering Price for gross proceeds of C$10,000,000, which included the full exercise of the Underwriter's over-allotment option. Red Cloud Securities Inc. acted as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters that included Haywood Securities Inc., Sprott Capital Partners and Eight Capital Corp. (collectively, the \"Underwriters\"). Under the Non-Brokered Private Placement, the Company sold 4,255,319 FT Units at the Offering Price for gross proceeds of C$2,000,000.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 at a price of C$0.47 at any time on or before May 26, 2026. The expenditures to be renounced in respect of the Common Shares comprising the FT Units will qualify as \"flow-through critical mineral mining expenditures\" as defined in subsection 127(9) of the Income Tax Act (Canada) and a \"flow-through mining expenditure\" as defined in paragraph 2(2)(d) of The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan).A total of 10,638,298 FT Units that were sold under the Brokered Private Placement were sold by way of the \"listed issuer\" exemption under National Instrument 45-106 – Prospectus Exemptions in all the provinces of Canada with the exception of Quebec (the \"Selling Jurisdictions\"). The C...