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Future Fuels Inc. Announces Closing of $1.5 Million Private Placement
VANCOUVER, BC / ACCESS Newswire / August 21, 2025 / Future Fuels Inc. (the " Company " or "Fut...
About this update from Future Fuels Inc
[{"type":"text","content":"Future Fuels Inc. Announces Closing of $1.5 Million Private Placement VANCOUVER, BC / ACCESS Newswire / August 21, 2025 / Future Fuels Inc. (the \"Company\" or \"Future Fuels\") (TSXV:FTUR)(FSE:S0J) is pleased to announce that it has closed its non-brokered private placement financing (the \"Private Placement\") of 3,750,000 units (the \"Units\") for gross proceeds of $1,500,000 previously announced on July 17, 2025.Each Unit consists of one common share (each, a \"Common Share\") and one common share purchase warrant (each, a \"Warrant\"). Each Warrant will entitle the holder to purchase one additional Common Share at a price of $0.60 for a period of two years from the date of issuance.Proceeds from the offering will be used for general corporate purposes, which may include investor relations activities, and to advance exploration and development at the Company's Hornby Uranium Project in Nunavut.Under the Private Placement, insiders of the Company subscribed for 700,000 Units. Each subscription under the Private Placement by an insider is considered to be a \"related party transaction\" of the Company for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") and Section 5.9 - Protection of Minority Security Holders in Special Transactions of the TSX Venture Exchange's Corporate Finance Manual. In completing the Private Placement, the Company is relying upon exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Sections 5.5(a) and (b) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization and no securities of the Company are listed or quoted for trading on prescribed stock exchanges or stock markets. Additionally, the Company is exempt from minority shareholder approval requirements in Section 5.6 of MI 61-101 in reliance on, inter alia, Section 5.7(a) as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization. The Company did not file a material change report 21 days prior to the expected closing date...