Aero Energy Announces Closing of Final Tranche of Non-Brokered Private Placement
Executive Summary
- Aero Energy Limited closed the second and final tranche of its previously announced non‑brokered private placement, raising a total of $5,000,000 in gross proceeds.
- The offering consisted of 5,367,173 common shares at $0.23 each ($1,234,450) and 7,142,857 charity flow‑through (CFT) shares at $0.35 each ($2,500,000).
- Proceeds will fund exploration of uranium properties in Saskatchewan and Nevada and be used for eligible Canadian flow‑through mining expenditures; finder’s fees and warrants were also issued.
Key Details
- Tranche Structure – Final Tranche comprised:
- NFT Shares: 5,367,173 common shares @ $0.23 per share → gross proceeds $1,234,450.
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CFT Shares: 7,142,857 charity flow‑through common shares @ $0.35 per share → gross proceeds $2,500,000.
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Aggregate Offering Totals – Combined with the first tranche, the private placement raised $5,000,000 gross from:
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10,869,565 NFT Shares and 7,142,857 CFT Shares.
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Use of Proceeds –
- NFT Share proceeds: fund exploration and advancement of uranium projects in Saskatchewan & Nevada; also for general working capital.
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CFT Share proceeds: incur eligible Canadian exploration expenses that qualify as flow‑through critical mineral mining expenditures and other qualifying expenditures on Saskatchewan projects, to be renounced by Dec 31 2025.
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Finder’s Compensation – Paid cash finder’s fees of $60,436 and issued 262,765 Finder’s Warrants to Eventus Capital Corp. Each warrant allows purchase of one common share at $0.23, exercisable until Dec 30 2027; warrants subject to a hold period expiring May 1 2026.
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Securities Exemptions & Hold Periods –
- NFT Shares issued under NI 45‑106 exemption; no hold period required.
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Finder’s Warrants and underlying shares subject to a hold period until May 1 2026.
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Regulatory Disclaimers – The release does not constitute an offer in the United States; securities are not registered under the U.S. Securities Act.
Notable Quotes
“The successful closing of our final tranche provides us with the capital needed to accelerate exploration on our high‑potential uranium assets and supports our strategic growth objectives,” — Galen McNamara, CEO & Chairman.