Northern Uranium closes $500,000 private placement

Executive Summary

• Northern Uranium Corp. closed a private placement financing of $500,000 by issuing 6,666,661 units at C$0.075 per unit.
• Each unit includes one common share and one‑year transferable warrant exercisable at C$0.10 per share; $70,000 of the proceeds were issued on a flow‑through basis providing tax benefits to investors.
• Proceeds will be allocated to debt repayment, working capital, and property exploration; units are restricted from trading until March 1 2026 and a 6% cash finder’s fee of $27,600 will be paid to T‑Bone Ventures Inc.

Key Details

• Units Issued: 6,666,661 units at C$0.075 per unit → total gross proceeds of $500,000.
• Unit Composition: 1 common share + 1 transferable warrant (one‑year term) exercisable at C$0.10 per share.
• Flow‑Through Component: $70,000 issued on a flow‑through basis; includes 933,333 flow‑through units and an additional 933,333 flow‑through shares issuable upon warrant exercise, granting tax benefits under the Canadian Income Tax Act.
• Use of Proceeds:
• Payment of existing debt.
• Working capital requirements.
• Funding for property exploration activities.
• Trading Restrictions: Units restricted from trading until March 1 2026.
• Cash Finder’s Fee: 6% of gross proceeds ($27,600) payable to T‑Bone Ventures Inc., per TSX Venture Exchange policies.
• Regulatory Acceptance: Financing terms accepted for filing by the TSX Venture Exchange.