F3 Issues Common Shares Debt Settlement of Interest Owed
F3 settles accrued interest with Denison via shares and cash to preserve liquidity.
F3 Uranium Corp. issued 755,034 common shares to Denison Mines Corp. to settle a portion of accrued interest on a 9% convertible debenture. The settlement includes a cash component of $225,000 and the equity component of 755,034 shares. The deemed price per share is $0.149, calculated using the 20-day VWAP as of June 30, 2026.
The transaction utilizes the equity payment option originally outlined in the October 2023 debenture terms, which allows up to one-third of interest to be paid in shares. The Board approved the transaction; it requires TSX Venture Exchange approval and carries a statutory hold period of four months and one day. This follows a pattern of similar quarterly interest settlements executed in January 2026, April 2026, and October 2025.
F3 Uranium Corp. (FUU) executed a routine financing arrangement that adheres to existing terms rather than initiating a new capital raise or strategic shift. The transaction involves share issuance priced at the volume-weighted average price (VWAP), a structure intended to minimize adverse selection concerns for existing shareholders.
Financially, the deal preserves the company’s liquidity position. A $225,000 cash payment directly offsets accrued interest liabilities, leaving F3 Uranium’s $21.4 million cash balance largely intact. This preservation of working capital supports the company’s upcoming summer drilling program.
The execution does not alter the underlying project status, drilling plans, or the Nasdaq listing timeline. While the incremental share issuance may have a neutral to slightly negative market impact, the benefit of retained cash for operational activities offsets these concerns.
F3 Uranium Corp. is an exploration-stage uranium company focused on the Patterson Lake North (PLN) project in the Western 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.
The JR Zone has an initial Indicated Mineral Resource of 11.8 million lbs U3O8 at an average grade of 4.39%, including a high-grade domain averaging 12.23% U3O8. Meanwhile, the Tetra Zone discovery on the Broach property has shown strong radioactivity intercepts, with genetic studies confirming a link to the JR Zone's hydrothermal system. The company is advancing a systematic, land-package-wide exploration strategy integrating geophysics, geochemistry, and diamond drilling.