F3 Uranium closes $20-million bought deal

Executive Summary

• F3 Uranium Corp. closed a bought‑deal private placement raising C$20 million (≈ US $20 million) in gross proceeds.
• The offering comprised 25 M standard units and multiple flow‑through (FT) units sold to charitable purchasers at varying prices (C$0.20–0.33 per unit).
• Proceeds will fund exploration of Athabasca Basin projects, eligible Canadian flow‑through mining expenditures, and general corporate working capital.

Key Details

• Units Sold
• 25 000 000 standard units @ C$0.20 each (includes one common share + ½ warrant).
• 14 814 815 non‑critical mineral flow‑through (NFT) units @ C$0.27 each.
• 16 666 667 federal flow‑through (FFT) units @ C$0.30 each.

• 18 181 818 Saskatchewan flow‑through (SFT) units @ C$0.33 each.

• Total Gross Proceeds: Approximately C$20 million (including full exercise of underwriters’ overallotment option).

• Underwriter Syndicate

• Lead underwriter & sole bookrunner: Red Cloud Securities Inc.

• Participants: Canaccord Genuity Corp., Haywood Securities Inc., SCP Resource Finance LP.

• Warrant Structure

• Each unit includes one‑half of a common share purchase warrant (exercise price C$0.30, expires Oct 3 2028).

• Broker warrants issued to underwriters: 4 091 975 warrants (5.5 % of FT units sold), each exercisable at C$0.20 until Oct 3 2028.

• Commission Paid

• Cash commission to underwriters: C$1 095 619 (5.5 % of gross proceeds; reduced to 2.75 % for “president’s list” sales).

• Use of Proceeds

• Finance exploration of Patterson Lake North, Minto, and Broach projects in the Athabasca Basin.
• Eligible Canadian flow‑through mining expenditures (critical mineral mining) under Income Tax Act provisions.

• General corporate purposes and working capital.

• Regulatory Notes

• Offering relied on NI 45‑106 listed issuer financing exemption (Part 5A).
• Securities issued to Canadian purchasers are freely tradeable under applicable securities legislation.
• Closing subject to final approval by the TSX Venture Exchange.

Notable Quotes

(No executive quotes were provided in the release.)