F3 Issues Shares for Interest Debt Settlement

Executive Summary

• F3 Uranium Corp. settled a portion of accrued interest on its October 2023 debenture with Denison Mines Corp. by paying $225,000 in cash and issuing 556,931 common shares at a deemed price of $0.202 per share.
• The settlement follows the terms of the original debenture, which carries a 9% coupon, quarterly interest payments, and a conversion right at $0.56 per share, maturing on October 18 2028.
• All issued securities are subject to TSX‑V approval and a statutory hold period of four months plus one day.

Key Details

• Cash Component: $225,000 paid to Denison Mines Corp.
• Share Component: 556,931 F3 Uranium common shares issued at a deemed price of $0.202 per share (total equity consideration ≈ $112,400).
• Debenture Terms (original):
• Coupon: 9% payable quarterly.
• Maturity: October 18 2028.
• Conversion Price: $0.56 per share (Denison’s optional conversion right).
• Interest Payment Flexibility: Up to one‑third of interest may be paid in common shares at the volume‑weighted average price over the 20 trading days preceding the payment date.
• Regulatory Conditions: Shares issued are subject to TSX‑V approval and a statutory hold period expiring four months and one day after issuance.
• Board Approval: The debt‑settlement transaction was approved by F3’s Board of Directors without requiring a formal valuation or minority shareholder consent under MI 61‑101.

Notable Quotes

“The settlement reflects our commitment to responsibly manage our financing obligations while preserving flexibility for future growth.” – Dev Randhawa, CEO, F3 Uranium Corp.