- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
UEX (TSX:UEX) has announced that it has closed its flow-through common share offering with Sprott Capital Partners for 6.7 million common shares at $0.30 per share. As quoted in the press release: The Company has also closed its additional private placement with Sprott for 15,999,994 units of the Company at a price of C$0.25 per …
UEX (TSX:UEX) has announced that it has closed its flow-through common share offering with Sprott Capital Partners for 6.7 million common shares at $0.30 per share.
As quoted in the press release:
The Company has also closed its additional private placement with Sprott for 15,999,994 units of the Company at a price of C$0.25 per unit (the “Unit Offering”). Each unit consists of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase a common share of the Company at a price of C$0.42 for a period of three years from the closing of the Unit Offering. The aggregate gross proceeds of the FT Offering and the Unit Offering totalled $6.01 million.
The Agent received a cash commission on the sale of the FT Offering and Unit Offering equal to 6% of the gross proceeds raised. The Agent also received broker warrants equal to 3% of the total number of units and flow-through shares sold, each broker warrant being exercisable for a common share at C$0.30 for a period of two years from the date of closing.
The Company intends to use the gross proceeds of the Unit Offering for general working capital. The proceeds of the FT Share offering will be used to fund exploration of the Company’s uranium properties as qualifying Canadian Exploration Expenses as defined in subsection 127(9) of the Income Tax Act (Canada) which will be renounced to the subscribers with an effective date of December 31, 2017.
The securities issued by UEX in connection with the FT Offering and Unit Offering are subject to a four month plus one day “hold period” as prescribed by the Toronto Stock Exchange and applicable securities laws.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.