- Basin Uranium (NCLR) has closed the first tranche of its non-brokered private placements for proceeds of $1,037,650
- Under the first tranche, the company issued 6,249,270 units and 557,000 FT shares
- The company will issue the remaining 417,396 units at $0.15 per unit and 4,998,555 FT shares at $0.18 per FT share for gross proceeds of up to $962,350
- Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector
- Basin Uranium Corp. (NCLR) is down 3.13 per cent on the day, trading at C$0.155 per share at 4 pm ET
Basin Uranium (NCLR) has closed the first tranche of its previously announced non-brokered private placements for proceeds of $1,037,650.
Under the first tranche, the company issued 6,249,270 units and 557,000 FT shares. Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable to purchase one additional share until October 19, 2024.
The gross proceeds of the flow-through shares will be used for expenses related to the company’s Mann Lake uranium project in Saskatchewan. Exploration is currently underway at the project, and funds from the FT private placement will be used to expand the company’s ongoing phase two drill program. Proceeds from the units will be used to conduct exploration and development work on its Wray Mesa project and for general working capital purposes.
The company has paid $33,871.60 finder’s fees and issued a total of 276,729 finder’s warrants.
All securities issued are subject to a statutory hold period ending on February 20, 2023.
The company will issue the remaining 417,396 units at $0.15 per unit and 4,998,555 FT shares at $0.18 per FT share for gross proceeds of up to $962,350.
Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company owns the Wray Mesa project in Utah, which has seen significant historic uranium and vanadium exploration.
Basin Uranium Corp. (NCLR) is down 3.13 per cent on the day, trading at C$0.155 per share at 4 pm ET.
