F3 Uranium (TSXV: FUU | OTCQB: FUUFF) has announced that due to significant investor demand, the company has increased its gross proceeds of its previously announced private placement from C$15M to C$17.5M through the sale of over 36M flow-through shares at C$0.485 per share.
The 36,082,474-share purchase was made by Red Cloud Securities, the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters.
The underwriters have an option to purchase for resale up to another C$2.5M worth of shares in an over-allotment option, exercisable up to 48 hours prior to the closing date.
The flow-through units to be sold under the offering will be offered by way of the “accredited investor” and “minimum amount investment” exemptions under National Instrument 45-106 – Prospectus Exemptions.
The offering is expected to close on 12 September 2023. F3 will pay the underwriters a cash commission of 5.5% on gross proceeds raised. F3 will use the money to fund exploration in the Athabasca basin, where it has 18 projects and is home to some of the world’s largest high-grade uranium discoveries.
Several of F3’s projects are near large uranium discoveries including Triple R, Arrow, and Hurricane.
For further information, please visit: www.f3uranium.com
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