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Generation Uranium Announces the Upsizing of the Private Placement and the Closing of $1,000,000 in First Tranche.
(TheNewswire) Vancouver, British Columbia, Canada, April 11, 2024 – TheNewswire ...
About this update from Generation Uranium Inc Class A
[{"type":"text","content":"Generation Uranium Announces the Upsizing of the Private Placement and the Closing of $1,000,000 in First Tranche.\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia, Canada,\nApril 11, 2024 –\n \n \n TheNewswire\n \n \n – Generation Uranium Inc.\n \n \n (the “Company” or “Generation”), (TSXV:\nGEN)\n \n is pleased to announce that it has increased the size of\nits non-brokered private placement (the \"Private Placement\"\nor “Offering”) of 4,000,000 Units,\n \n \n made public on SEDAR\n \n \n on\nMarch 15, 2024, to 5,000,000 Units for anticipated aggregate proceeds\nof CAD$1,250,000. The first of two tranches of the Private Placement\nclosed with the issuance of 4,000,000 Units, each consisting of one\nCommon Share of the Company and one Common Share Purchase Warrant at a\nprice of $0.25 per Unit, for aggregate proceeds of CAD $1,000,000.\nEach Purchase Warrant is exercisable into one Common Share at an\nexercise price of $0.45 per share at any time up to 24 months\nfollowing the closing date. A large natural resource fund out of New\nYork and Toronto is one of several subscribers participating in the\nOffering.\n \n \n Additionally, the Company maintains a Warrant Acceleration option\nallowing Generation to accelerate the expiry date of the Warrants if\nthe daily trading price of the Common Shares on the TSX Venture\nExchange is greater than $0.70 per Common Share for the preceding 10\nconsecutive trading days.\n \n \n As part of the closing, Generation will compensate the Finding Agent\nwith a commission of 4.0% cash and 4.0% Purchase Warrants based on the\ngross proceeds of the Offering, and will receive such number of broker\nwarrants as is equal to 8.0% of the number of Units sold under the\nOffering.\n \n All securities issued and including Warrants\nwill be subject to a four (4) month holding 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.\nVisit our\n \n \n investor presentation\n \n \n and\n \n \n website\n \n \n for additional\ninformation.\n \n \n \n FOR FURTHER INFORMATION CONTACT\n \n \n \n Anthony Zelen\n \n \n President and Chief Executive ...