Baselode Energy Upsizes Flow-Through Private Placement For Up to $2 Million

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

 Baselode Energy Corp. (" Baselode " or the " Company ") (TSXV: FIND) is pleased to announce that due to strong investor demand, it has increased its previously announced non-brokered private placement offering to up to C$2.0M (the "Offering"), consisting of up to 5,000,000 flow-through units (the "FT Units") of the Company at a price of C$0.40 per FT Unit. Each FT Unit shall be comprised of one flow-through share in the capital of the Company (each a "FT Share") and one half of one Common Share purchase warrant (each a "Warrant"). Each Warrant shall be exercisable into one Common Share at a price of C$0.60 at any time on or before the date, which is 24 months after the Offering's closing date.

Red Cloud Securities Inc. will be acting as a finder on behalf of the Company in connection with the Offering.

The Offering's net proceeds will be used for exploration work at the Company's Shadow and Hook projects . Both projects are testing for near-surface, basement-hosted, high-grade uranium targets in the Athabasca Basin area of northern Saskatchewan, Canada .

The closing of the Offering, which is expected to occur on or before December 14, 2020 , is subject to receipt of all necessary regulatory approvals, including the approval of the listing of the common shares on the TSX Venture Exchange. The Offering securities issuable will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws.

The securities offered 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States , nor in any other jurisdiction.

About Baselode Energy

Baselode is a uranium exploration company focused on discovering a uranium orebody in the Athabasca Basin area in Saskatchewan, Canada .

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in filings by the Company with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedar.com .

SOURCE Baselode Energy Corp.

Cision View original content: https://www.newswire.ca/en/releases/archive/December2020/07/c4663.html

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)
Canadian and Saskatchewan flags waving under a clear blue sky.

13 Uranium Companies Exploring Canada's Athabasca Basin

Uranium market watchers know that Canada’s Athabasca Basin is among the world’s richest uranium jurisdictions and hosts several of the highest-grade uranium deposits on the planet.

Spanning close to 100,000 square kilometers of the Canadian Shield of Northern Saskatchewan and Alberta, the Athabasca Basin is a major contributor to Canada’s status as the second largest uranium producer and the third largest country by uranium reserves.

Unsurprisingly, the region is home to the world’s largest uranium mine, Cigar Lake. The mine reports average grades of 14.69 percent U3O8 and accounts for 14 percent of global uranium production.

Keep reading...Show less
Terra Clean Energy (CSE:TCEC)

Terra Clean Energy


Keep reading...Show less
A$4.5M Placement to Underpin Resource Growth Strategy

A$4.5M Placement to Underpin Resource Growth Strategy

GTI Energy (GTR:AU) has announced A$4.5M Placement to Underpin Resource Growth Strategy

Download the PDF here.

John Ciampaglia, nuclear reactors.

John Ciampaglia: Uranium Turnaround? Spot Price Pop, Stocks and SPUT Raise

John Ciampaglia, CEO of Sprott Asset Management, discusses uranium supply, demand and pricing, also sharing details on the Sprott Physical Uranium Trust's (TSX:U.U,OTCQX:SRUUF) recently closed US$200 million bought-deal financing.

"It's clearly acted as a very positive catalyst — the spot price has popped, a lot of the equities have popped on this," he said about the agreement.

Keep reading...Show less

Latest Press Releases

Related News

×