is pleased to announce that further to its December 4, 2024 press release, the Company has completed a non-brokered private placement issuing a total of 14,680,000 units (each a “Unit”) at a price of $0.125 per Unit (the “”) raising aggregate gross proceeds of $3,337,824.73. Each FT Share will qualify as a “flow-through share” as defined in subsection 66(15) of the”). Each Warrant is exercisable at a price of $0.20 for a period of 36 months following the closing of the Private Placement.
The gross proceeds of the FT Offering will be used by the Company to incur eligible “Canadian exploration expenses” that will qualify as “flow-through critical mineral mining expenditures” as such terms are defined in the“) related to the Company’s mineral projects including the South Falcon East uranium project on or before December 31, 2025. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2024. The net proceeds from the sale of the Unit Offering will be used by the Company to finance exploration and development activities and for working capital and general corporate purposes. In connection with the closing of the Private Placement, the Company paid finders an aggregate of (i) cash fees of $135,305.99; (ii) 227,200 finder’s warrants to those finders who assisted with the sale of Units (“') were issued. Each Unit Finder's Warrant entitles the holder to purchase one common share of the Company at a price of $0.125 for a period of 24 months from the date of issuance. Each FT Finder's Warrant entitles the holder to purchase one common share of the Company at a price of $0.135 for a period of 24 months from the date of issuance.') purchased or acquired direction and control over a total of 952,000 Units under the Private Placemen
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Gil Playford Increases Stake in Company Through Private Placement OfferingGil Playford, through a limited partnership (LP), increased his stake in the company by acquiring 15,151,151 common shares as part of a private placement offering, raising his ownership to 8.07% of the outstanding common shares on a non-diluted basis.
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