F3 Issues Common Shares Debt Settlement of Interest Owed
F3 issues equity to settle quarterly interest, continuing dilution for shareholders at its projects.
F3 Uranium Corp. (FUU) executed a quarterly debt settlement with Denison Mines Corp. in its most recent release on October 2, 2026. The company paid $225,000 in cash and issued 797,872 common shares to settle accrued interest on its convertible debenture.
The shares were valued at a deemed price of $0.141 per share, calculated using the 20-day VWAP as of September 28, 2026. The transaction was approved by the Board, requires TSX-V approval, and is subject to a standard 4-month statutory hold period. This follows a consistent quarterly pattern of interest settlements executed throughout 2026, utilizing the equity payment option embedded in the original October 2023 debenture terms.
F3 Uranium Corp. (FUU) executed a routine financing covenant that resulted in the issuance of approximately 798,000 shares. This contractual dilution is minimal relative to the company’s 631.8 million shares outstanding. The transaction involved a payout of $225,000, a move that aligns with the company’s strategy to conserve liquidity for its ongoing 2026 summer exploration program.
The transaction does not alter the strategic trajectory, capital allocation, or exploration timeline at the Patterson Lake North (PLN) project. Market impact is expected to be neutral, as the mechanism and pricing are fully transparent and have been repeated quarterly without surprise.
F3 Uranium Corp. is an exploration-stage uranium company focused on the 100%-owned Patterson Lake North (PLN) project in the southwestern Athabasca Basin, Saskatchewan. The PLN project spans 42,961 hectares across three properties: Patterson Lake North, which hosts the JR Zone; Minto; and Broach, which hosts the Tetra Zone discovery.
The JR Zone announced an initial Indicated Mineral Resource of 11.8 million lbs U3O8 at an average grade of 4.39% in December 2025, including a high-grade domain of 10.8 million lbs at 12.23%. The Tetra Zone, discovered on the Broach property, has shown strong radioactivity intercepts and extensive alteration, with recent drilling confirming a 135-meter plunge length and significant step-out potential.
The company is applying a land-package-wide, first-mover exploration approach, utilizing advanced geophysics including magnetotellurics, 3D DCIP, and ground EM to identify blind targets in the Clearwater Domain.