- International Consolidated Uranium (CUR) has closed its bought deal private placement with Haywood Securities Inc. and Red Cloud Securities Inc. as co-lead underwriters
- The offering consisted of an aggregate of 5,025,000 units at C$1.20 per unit
- Aggregate gross proceeds from the offering totalled C$6,030,000
- Proceeds are to be used for the exploration and development of the company’s uranium properties, potential acquisitions, and for working capital
- International Consolidated Uranium Inc. is a Vancouver-based exploration and development company
- International Consolidated Uranium Inc. (CUR) is down 2.10 per cent, trading at C$1.40 per share at 11 am EST
International Consolidated Uranium (CUR) has closed its bought deal private placement.
Haywood Securities Inc. and Red Cloud Securities Inc. were co-lead underwriters.
The offering consisted of an aggregate of 5,025,000 units including the full exercise of the underwriters’ option, at a price of C$1.20 per unit.
Aggregate gross proceeds from the offering totalled C$6,030,000.
Philip Williams, President and CEO commented,
“We are pleased to have closed another successful, oversubscribed offering. This financing not only strengthens the Company’s balance sheet but also expands our institutional shareholder base. Over the past few months, the uranium sector has enjoyed a resurgence of investor awareness and interest. As a relatively new entrant, with a unique approach, we believe we are well-positioned to benefit from this increased attention as we work to execute on our plan of acquiring and developing uranium projects around the world.”
Each unit consists of one common share and one-half of one common share purchase warrant.
Each warrant is exercisable for one common share at a price of C$1.80 until March 4, 2024.
The net proceeds from the offering are expected to be used for the exploration and development of the company’s uranium properties, for potential acquisitions, and for working capital and general corporate purposes.
The underwriters received a cash commission equal to 7.0% of the gross proceeds and non-transferable compensation options equal to 7.0% of the aggregate number of units sold under the offering.
Each compensation option can be exercised for one common share until March 4, 2023.
International Consolidated Uranium Inc. is a Vancouver-based exploration and development company.
International Consolidated Uranium Inc. (CUR) is down 2.10 per cent, trading at C$1.40 per share at 11 am EST.