Nuclear Fuels Inc. (CSE: NF | OTCQX: NFUNF) has announced that due to strong institutional investor demand, it has entered into an agreement with PI Financial Corp., as sole bookrunner, along with PowerOne Capital Markets Limited as co-leads, (the underwriters) to increase the size of the previously announced bought deal private placement from C$5.0M to C$6.4M.
Pursuant to the amended terms, the offering will consist of 10.6M units at C$0.60 each for proceeds of about C$6.4M. Each unit shall consist of one share and half of one transferable share purchase warrant. Each warrant shall be exercisable into one additional share (warrant share) of the company for 36 months from the closing date at an exercise price of C$0.80.
The company has also granted the underwriters an option to cover over-allotments, which will allow the underwriters to offer up to an additional 20% of the offering, on the same terms as the units. The underwriters’ option may be exercised in whole or in part at any time prior to the closing of the offering.
The offering is expected to close on or about 24 January 2024 (the closing date), or such other date as agreed between the company and the underwriters and is subject to satisfaction of customary closing conditions.
The company intends to use the net proceeds from the offering for exploration and development expenses for the Kaycee, Moonshine, other projects and for general working capital purposes.
Nuclear Fuels Inc. is a company committed to aggressive exploration of district-scale in-situ recovery (ISR) uranium projects in proven and prolific jurisdictions. Focused on its priority Kaycee Project, located in Wyoming’s Powder River Basin, their goal is to advance the project onto a path to production.
For further information, please visit: www.nuclearfuels.energy
To read more articles like this, please visit: www.theassay.com
