Baselode Energy Announces $8.0 Million Bought Deal Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Baselode Energy Corp. ( TSXV : FIND ) (" Baselode " or the " Company ") is pleased to announce that the Company has entered into an agreement with a syndicate of underwriters led by PI Financial Corp. (collectively, the " Underwriters "), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" private placement basis, an aggregate of 6,957,000 units (the " Units ") of the Company at a price of C$1.15 per Unit (the " Offering Price ") for gross proceeds of C$8.0 million (the " Offering ").

Each Unit shall consist of one common share (" Share ") and one-half of one transferrable common share purchase warrant (each whole such common share purchase warrant, a " Warrant "). Each Warrant shall be exercisable into one additional common share of the Company for 30 months from the Closing Date at an exercise price of C$1.60.

In addition, the Company has granted the Underwriters an option, exercisable in whole or in part at any time prior to closing of the Offering, to offer an additional number of Units representing 15% of the Offering, on the same terms as the Units.

The net proceeds of the Offering will be used to fund exploration and development expenses for the Catharsis, Hook and Shadow projects and for general working capital purposes. The closing of the Offering is anticipated to occur on or around November 30, 2021 (the " Closing Date ") and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange. All securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the Closing Date.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Baselode Energy Corp.

Baselode currently controls 100% of approximately 226,900 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada. The land package is free of any option agreements or underlying royalties.

Baselode's Athabasca 2.0 exploration thesis is focused on discovering near-surface, basement-hosted, high-grade uranium orebodies outside of the Athabasca Basin. The exploration thesis is further complemented by the Company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.

For Further Information, Please Contact:

James Sykes
President and CEO
jsykes@uraniumgeologist.com
306-221-8717
www.baselode.com


News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)
TSXV:FIND

Baselode Energy

High Grade Uranium Exploration in Saskatchewan

High Grade Uranium Exploration in Saskatchewan Keep Reading...
Nuclear cooling tower with rising bar and line graphs in the background.

Uranium Price 2025 Year-End Review

After 2024’s rapid rise, the U3O8 spot price remained more constrained through 2025, fluctuating between a relatively short range of US$63.17 (March 13) and US$83.33 (September 25) per pound. Entering the year, the price was sitting at US$74.56 before economic and geopolitical uncertainty pushed... Keep Reading...
Bruce Lane, executive director of American Uranium

American Uranium Eyes Resource, Scoping Study Update in 2026

American Uranium (ASX:AMU) is advancing drilling at its Lo Herma project in Wyoming, with work continuing into the winter season, according to Executive Director Bruce Lane in an interview with the Investing News Network. The company is currently awaiting results from recent hydrogeological... Keep Reading...
Smartphone displaying uranium stock chart with buy and sell options.

China’s Sole Uranium Miner Soars in Market Debut

China National Uranium (SZSE:001280) more than tripled in value during its first day of trading in Shenzhen, raising about 4 billion yuan (US$570 million) in its Wednesday (December 3) debut.According to an exchange filing cited by Bloomberg, the state-backed miner priced 248 million shares at... Keep Reading...
Map with a pin marking Niger, showing neighboring countries.

Niger Moves to Sell Uranium from Orano's Seized SOMAÏR Mine

Niger’s military government announced on Sunday (November 30) that it intends to put uranium produced by the SOMAÏR mine on the international market.General Abdourahamane Tiani, head of the junta, told state television that “Niger's legitimate right to dispose of its natural riches to sell them... Keep Reading...
Expands REE and Uranium Footprint at Sybella-Barkly

Expands REE and Uranium Footprint at Sybella-Barkly

Basin Energy (BSN:AU) has announced Expands REE and uranium footprint at Sybella-BarklyDownload the PDF here. Keep Reading...
Map highlighting France and Niger with their flags placed on top.

Orano Condemns Illegal Uranium Transfer from Niger Mine

Orano said it “strongly condemns” the removal of uranium from the SOMAÏR mine in Northern Niger.The French firm called the transfer illegal and a direct breach of the International Center for Settlement of Investment Disputes’ (ICSID) September ruling, which prohibits the material's sale or... Keep Reading...

Latest Press Releases

Related News