F3 Issues Shares for Interest Debt Settlement

The most recent news (January 28, 2026) announces that F3 Uranium is settling accrued interest on its 9% convertible debenture with Denison Mines Corp. The settlement involves a cash payment of $225,000 and the issuance of 815,217 common shares at a deemed price of $0.138 per share. This action is part of the original financing agreement from October 2023, which allows for up to one-third of interest payments to be made in shares.

• Financial impact: Neutral. The share issuance is a routine execution of an existing debt agreement. The deemed price of $0.138 is significantly lower than the current trading price of $0.23, reflecting a 20-day VWAP that likely incorporates the lower price levels seen in late December and early January.
• Operational impact: Neutral. This news does not alter the exploration trajectory. However, it confirms that F3 is choosing to preserve its cash (of which it had approximately $26.1 million in December 2025) by utilizing equity for debt servicing.
• Historical Context: This follows a series of significant milestones: the December 22, 2025, announcement of an initial Indicated Mineral Resource at the JR Zone (11.8M lbs U3O8 at 4.39%) and the January 13, 2026, news that the Tetra Zone mineralized length has doubled to 135m. The filing of the NI 43-101 report on January 20, 2025, formalizes the resource and allows the company to move into its next phase of aggressive exploration.

F3 Uranium Corp. is a junior explorer focused on the Patterson Lake North (PLN) Project in the Athabasca Basin, Saskatchewan. - Flagship Project: The PLN Project (100% owned) covers 42,961 hectares. - JR Zone: An indicated resource of 11.8 million lbs of U3O8 at a grade of 4.39%. This includes a high-grade core of 10.8 million lbs at 12.23% U3O8. - Tetra Zone: A new discovery 13km south of the JR Zone. It is currently the primary exploration focus, with mineralization extending over 135m in strike and remaining open.