Recharge Resources Announces Closing of Non-Brokered Private Placement of Units

About this update from Uranium One Mining Corp.

[{"type":"text","content":"Vancouver, BC – February 6, 2025 – TheNewswire – Recharge Resources Ltd. (\"Recharge\" or the \"Company\") (RR: CSE) (RECHF: OTC) (SL5: Frankfurt) is pleased to announce that it has closed its previously announced non-brokered private placement of units of the Company (the “Units”) for gross proceeds of $ $888,300.07 by the issuance of 12,690,001 Units at a price of $0.07 per Unit (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one additional Common Share (a “Warrant Share”) at a price of $0.10 per Warrant Share for a period of 36 months from the closing date of the Offering. The Warrants issued under the Offering contain an accelerated expiry clause (the “Acceleration Clause”). Pursuant to the Acceleration Clause, if the Common Shares of the Company close at or above $0.25 for five (5) consecutive trading days on the Canadian Securities Exchange (“CSE”), then the Company may accelerate the expiry date of the Warrants by issuing a news release announcing the accelerated Warrant term, pursuant to which the Warrants will expire on the 30th calendar day after the date of such news release. The Company intends to use the net proceeds from the Offering for the Company’s exploration program and general corporate and working capital purposes. All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day following the date of issuance in accordance with applicable securities legislation.  All references to currency in this news release are to Canadian currency. In connection with the closing of the Offering, the Company paid a finder’s fee of $1,960 in cash and issued 28,000 share purchase warrants (the “Finder’s Warrants”) to a certain arm’s length finders.  Each Finder’s Warrant entitles the holder thereof to purchase one Share at a price of $0.10 for a period of 36 months from the date of issuance. The subscribers in the Offering included a corporate subscriber controlled by the CEO of the Company, the CEO of the Company, and a corporate subscribed controlled by the CFO of the Company (collectively the “Insiders”) who subscribed for an aggregate of 1,630,000 Units for aggregate gross proceeds of $ 114,10...

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