F3 Uranium arranges debt settlement deal with Denison

Executive Summary

• F3 Uranium Corp. settled a portion of accrued interest on its October 2023 financing agreement with Denison Mines Corp. by issuing 556,931 common shares and paying $225,000 in cash.
• The settlement follows the terms of the existing 9% convertible debenture maturing Oct. 18 2028, which allows up to one‑third of interest to be paid in shares at a price tied to the VWAP on the TSX‑V.
• All issued securities are subject to TSX‑V approval and a statutory hold period of four months and one day.

Key Details

• Cash component: $225,000 paid to Denison Mines Corp.
• Share component: 556,931 common shares issued at a deemed price of $0.202 per share.
• Debenture terms (original):
• Coupon: 9%, payable quarterly.
• Maturity: Oct. 18 2028.
• Conversion right: Denison may convert the debenture into common shares at $0.56 per share.
• Interest‑in‑shares provision: F3 may satisfy up to one‑third of any interest payment with common shares priced at the VWAP of F3’s TSX‑V shares over the 20 trading days preceding the payment date.
• Regulatory requirements: Issuance subject to TSX‑V approval and a statutory hold period expiring four months and one day after issuance.
• Board approval: Transaction approved by F3’s board under debenture terms; no formal valuation or minority shareholder consent required per MI 61‑101.

Notable Quotes

(No executive quotes were provided in the release.)