Uranium One Mining Corp. is pleased to announce that it has closed its previously announced non-brokered private placement (the “Offering”) consisting of: (i) 4,911,333 non-flow-through units of the Company (each, an “NFT Unit”) at a price of $0.30 per NFT Unit for aggregate gross proceeds of $1,473,399.90; and (ii) 5,116,669 flow-through units of the Company (each, an “FT Unit”) at a price of $0.30 per FT Unit for aggregate gross proceeds of $1,535,000.70, for total aggregate gross proceeds of approximately $3,008,400.60.
Each NFT Unit consists of one common share in the capital of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional Common Share at a price of $0.50 per Common Share for a period of 12 months from the date of issuance. If the Common Shares close at or above $0.75 per Common Share for a period of five (5) consecutive trading days, the Company may accelerate the expiry date of the Warrants to 30 days following the date of such notice.
Each FT Unit consists of one Common Share that qualifies as a “flow-through share” within the meaning of the Income Tax Act (Canada) (an “FT Share”) and one Warrant. Each Warrant entitles the holder to acquire one additional non-flow-through Common Share at a price of $0.50 per Common Share for a period of 12 months from the date of issuance. If the Common Shares close at or above $0.75 per Common Share for a period of five (5) consecutive trading days, the Company may accelerate the expiry date of the Warrants to 30 days following the date of such notice.
The NFT Units and FT Units issued pursuant to the Offering are subject to a four-month hold period under applicable Canadian securities laws that expires on September 28, 2026.
The net proceeds from the sale of NFT Units will be used for exploration and drilling programs, property payments, and general working capital. The net proceeds from the sale of FT Units will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act (Canada), and the Company will renounce such qualifying expenditures to the subscribers of FT Shares with an effective date no later than December 31, 2026, in an aggregate amount not less than the total subscription proceeds received for the FT Shares.
In connection with the closing of the Offering, the Company paid aggregate cash finder’s fees of $211,472.06 and issued an aggregate of 704,907 non-transferable finder’s warrants (the “Finder’s Warrants”) to eligible arm’s length finders, including Haywood Securities Inc., Ventum Financial Corp., Canaccord Genuity Corp., Raymond James Ltd., Research Capital Corporation, and Acumen Capital Finance Partners Limited. Except as described below with respect to Canaccord Genuity Corp., each Finder’s Warrant is exercisable into one Common Share at a price of $0.50 per Common Share for a period of 24 months from the date of issuance.
Canaccord Genuity Corp. (the “Canaccord”) was issued Finder’s Warrants equal to 8% of the NFT Units and FT Units subscribed for by persons introduced to the Company by Canaccord. Each such Finder’s Warrant is exercisable to purchase one additional Common Share at a price of $0.39 per Common Share for a period of 24 months from the closing of the Offering.
Insiders of the Company participated in the Offering. Such participation constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to subsections 5.5(a) and 5.7(a) thereof, as neither the fair market value of any securities issued to such insiders nor the consideration paid by such persons exceeds 25% of the Company’s market capitalization, as determined in accordance with MI 61-101.
About Uranium One Mining Corp.
Uranium One Mining Corp. is a Canadian mineral exploration company focused on the discovery and development of high-value strategic minerals. The Company is currently advancing uranium exploration projects, including the Yuty Prometeo Project located in Paraguay, the Nuclean Uranium Project in the Athabasca Basin, Saskatchewan, and the Quark Uranium Property, also located in the Athabasca Basin. Uranium One is committed to responsible exploration and value creation through the acquisition and advancement of highly prospective uranium properties.
On Behalf of the Board of Directors
“David Greenway”
David Greenway, CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Uranium One Mining Corp.
Brent Rusin
Phone: +1 672-533-0348
E-Mail: brent@uraniumone.com
Website: www.uraniumone.com
U.S. Securities Law Disclaimer
The securities issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “Forward-Looking Statements”) within the meaning of applicable Canadian and U.S. securities laws. All statements, other than statements of historical fact, included herein are Forward-Looking Statements, including, without limitation, statements regarding: the use of proceeds from the Offering; the Company’s plans and exploration programs for its mineral properties, including the timing of such plans and programs; the renunciation of qualifying expenditures to subscribers of FT Shares; the Company’s business objectives, exploration plans, and strategic direction; and the anticipated benefits of the Offering.
When used in this news release, words such as “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “will”, “schedule”, and similar expressions are intended to identify Forward-Looking Statements.
Forward-Looking Statements are based on management’s current expectations, estimates, projections, beliefs, and assumptions as of the date of this news release and are subject to a number of known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such Forward-Looking Statements. These risks and uncertainties include, but are not limited to: risks inherent in the mineral exploration and development industry; uncertainties relating to the availability of financing; fluctuations in commodity prices, including uranium prices; changes in applicable laws, regulations, or government policies; the speculative nature of mineral exploration and development; environmental risks and remediation measures; changes in laws and regulations impacting exploration and mining activities; and general economic, market, and business conditions.
Although the Company believes that the assumptions and expectations reflected in the Forward-Looking Statements are reasonable, undue reliance should not be placed on such statements. The Forward-Looking Statements contained herein are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. The Company undertakes no obligation to update or revise any Forward-Looking Statements, except as required by applicable securities laws.
Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive. Additional information regarding these and other risk factors is available in the Company’s public disclosure documents filed on SEDAR+ at www.sedarplus.ca.
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