F3 Uranium closes C$5.5 million private placement for exploration

F3 Uranium Corp. (TSXV: FUU) announced the completion of its bought deal private placement, raising gross proceeds of C$5.5 million. The company sold 27.7 million flow-through common shares at C$0.20 per share.

The shares qualify as flow-through shares under Canadian tax regulations and Saskatchewan's Mineral Exploration Tax Credit Regulations. F3 will use the proceeds for Canadian exploration expenses and flow-through critical mineral mining expenditures at its uranium projects in the Athabasca Basin, Saskatchewan, by December 31, 2027.

Red Cloud Securities Inc. served as lead underwriter and sole bookrunner, alongside Canaccord Genuity Corp., Haywood Securities Inc., and SCP Resource Finance LP. The company paid C$305,195 in cash commissions, representing 5.5% of gross proceeds, and issued 1.5 million broker warrants exercisable at C$0.20 per share until April 17, 2028.

The flow-through shares are subject to a Canadian hold period ending August 18, 2026. The transaction requires final approval from the TSX Venture Exchange.

F3 Uranium focuses on uranium exploration in the Athabasca Basin, with three properties including Patterson Lake North, Minto, and Broach. The company's Patterson Lake North project features the JR Zone and Tetra Zone discovery.

You May Also Be Interested In

• Lode Gold plans $7M private placement with Coast Capital follow-on
• Rain Oncology (RAIN) files $25M mixed shelf
• Glencore Canada converts US$25M Osisko Metals debenture into shares