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Generation Uranium Announces Non-Brokered Private Placement for Aggregate Proceeds of up to CAD$1,000,000
(TheNewswire) Vancouver, British Columbia, Canada / TheNewswire / March 15 ...
About this update from Generation Uranium Inc Class A
[{"type":"text","content":"Generation Uranium Announces Non-Brokered Private Placement for Aggregate Proceeds of up to CAD$1,000,000\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia, Canada /\n \n \n TheNewswire /\n \n \n March\n \n \n 15\n \n \n ,\n2024 – Generation Uranium Inc.\n \n \n (the\n“Company” or “Generation”), (TSXV: GEN)\n \n is pleased to\nannounce that it intends to complete a non-brokered Private Placement\nof up to 4,000,000 units of the Company (\"Units\") at a price\nof $0.25 per Unit for aggregate gross proceeds of up to $1,000,000\n(the \"Private Placement\").\n \n \n Each Unit will consist of one Common Share of the Company and one\nCommon Share purchase Warrant, with each Warrant exercisable into one\nCommon Share at an exercise price of $0.45 per share at any time up to\n24 months following the closing date of the Private Placement. The\nCompany also maintains a Warrant Acceleration option allowing\nGeneration to accelerate the expiry date of the Warrants if the daily\ntrading price of the Common Shares on the TSX Venture Exchange is\ngreater than $0.70 per Common Share for the preceding 10 consecutive\ntrading days. The activation of the Acceleration Clause will be\nannounced by press release and the 30-day period will commence 7 days\nafter the last Premium Trading Day. All other terms of the Warrants\nremain unchanged.\n \n All securities issued under the\nOffering and including Warrants will be subject to a four (4) month\nholding period.\n \n \n \n The Company intends to use the net proceeds to help define new drill\ntargets on the Yath Project, a high-grade uranium property situated in\nthe Thelon Basin in Nunavut, Canada, and general working capital.\n \n \n \n The Private Placement remains subject to receipt of all\nrequired approvals, including the approval of the TSX Venture\nExchange, as well as execution of formal documentation.\n \n \n \n \n This press release shall not constitute an offer to\nsell or the solicitation of an offer to buy the Units, nor shall there\nbe any sale of the Units in any jurisdiction in which such offer,\nsolicitation or sale would be unlawful prior to the registration or\nqualification under the securities laws of any such jurisdiction. The\nUnits being offered will not be, and have not been, registered under\nthe United...