- First Uranium (URNM) has announced that it has increased its private placement financing to C$8,000,000
- The company will issue up to 22,857,150 subscription receipts at a price of $0.35 per receipt
- Each subscription receipt is convertible into one common share and one half of a share purchase warrant
- The proceeds will be utilized for exploration work
- First Uranium Resources is a resource exploration issuer focused on locating and exploring natural resource projects in North America
- First Uranium Resources Ltd. (URNM) is up 1.14 per cent, trading at $0.445 as of 3:30 pm ET
First Uranium Resources (URNM) has announced that it has increased its private placement financing to C$8,000,000.
The company will issue up to 22,857,150 subscription receipts at a price of $0.35 per receipt.
Each subscription receipt is convertible into one common share and one half of a share purchase warrant, each whole warrant being exercisable into a common share for a price of $0.50 per share.
The proceeds of the subscription private placement will be utilized for exploration work, and acquisition and development work on the company’s Arkansas project described herein.
Conversion of the subscription receipts is subject to the company entering into a definitive option agreement with the Southwind shareholders and the proceeds from the sale of the subscription receipts will be held in escrow until the condition is satisfied.
The subscription receipt private placement will be brokered by Emerging Equities Inc. of Calgary, Alberta and is anticipated to close on or about March 31, 2022.
First Uranium Resources Ltd. is a resource exploration issuer focused on locating and exploring natural resource projects in North America.
First Uranium Resources Ltd. (URNM) is up 1.14 per cent, trading at $0.445 as of 3:30 pm ET.