F3 Issues Shares for Interest Debt Settlement
F3 Uranium Corp (OTCQB: FUUFF) has announced a debt settlement arrangement with Denison Mines Corp related to their October 2023 financing agreement. The company will settle a portion of the interest owed through a combination of cash payment ($225,000) and 562,500 common shares at $0.200 per share.
The underlying debenture carries a 9% coupon, payable quarterly, maturing on October 18, 2028. It is convertible at Denison's option into common shares at $0.56 per share. F3 maintains the discretion to pay up to one-third of the interest in common shares, priced at the 20-day volume-weighted average trading price on the TSX-V.
The shares issued in the debt settlement will be subject to a four-month statutory hold period in Canada and require TSX-V approval.
F3 Uranium Corp (OTCQB: FUUFF) ha annunciato un accordo di risoluzione del debito con Denison Mines Corp relativo al loro accordo di finanziamento di ottobre 2023. L'azienda risolver脿 una parte degli interessi dovuti attraverso una combinazione di pagamento in contante (225.000 dollari) e 562.500 azioni ordinarie a 0,200 dollari per azione.
Il prestito sottostante ha un tasso d'interesse del 9%, pagabile trimestralmente, con scadenza il 18 ottobre 2028. 脠 convertibile a discrezione di Denison in azioni ordinarie a 0,56 dollari per azione. F3 mantiene la facolt脿 di pagare fino a un terzo degli interessi in azioni ordinarie, valutate al prezzo medio ponderato per volume delle ultime 20 giornate di negoziazione sul TSX-V.
Le azioni emesse nella risoluzione del debito saranno soggette a un periodo di blocco legale di quattro mesi in Canada e richiederanno l'approvazione del TSX-V.
F3 Uranium Corp (OTCQB: FUUFF) ha anunciado un acuerdo de liquidaci贸n de deuda con Denison Mines Corp relacionado con su acuerdo de financiaci贸n de octubre de 2023. La empresa liquidar谩 una parte de los intereses adeudados a trav茅s de una combinaci贸n de pago en efectivo (225,000 d贸lares) y 562,500 acciones ordinarias a 0.200 d贸lares por acci贸n.
El pagar茅 subyacente tiene un cup贸n del 9%, pagadero trimestralmente, con vencimiento el 18 de octubre de 2028. Es convertible a opci贸n de Denison en acciones ordinarias a 0.56 d贸lares por acci贸n. F3 mantiene la discreci贸n de pagar hasta un tercio de los intereses en acciones ordinarias, valoradas al precio medio ponderado por volumen de las 煤ltimas 20 jornadas de negociaci贸n en el TSX-V.
Las acciones emitidas en la liquidaci贸n de deuda estar谩n sujetas a un periodo de bloqueo legal de cuatro meses en Canad谩 y requerir谩n la aprobaci贸n del TSX-V.
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F3 Uranium Corp (OTCQB: FUUFF) a annonc茅 un accord de r猫glement de dette avec Denison Mines Corp concernant leur accord de financement d'octobre 2023. L'entreprise r茅glera une partie des int茅r锚ts dus par une combinaison de paiement en esp猫ces (225 000 dollars) et de 562 500 actions ordinaires 脿 0,200 dollars par action.
La d茅benture sous-jacente a un taux d'int茅r锚t de 9%, payable trimestriellement, arrivant 脿 茅ch茅ance le 18 octobre 2028. Elle peut 锚tre convertie 脿 l'option de Denison en actions ordinaires 脿 0,56 dollars par action. F3 se r茅serve le droit de payer jusqu'脿 un tiers des int茅r锚ts en actions ordinaires, 茅valu茅es au prix moyen pond茅r茅 par volume des 20 derniers jours de n茅gociation sur le TSX-V.
Les actions 茅mises dans le cadre du r猫glement de la dette seront soumises 脿 une p茅riode de blocage l茅gale de quatre mois au Canada et n茅cessiteront l'approbation du TSX-V.
F3 Uranium Corp (OTCQB: FUUFF) hat eine Schuldenregelung mit Denison Mines Corp im Zusammenhang mit ihrem Finanzierungsvertrag vom Oktober 2023 angek眉ndigt. Das Unternehmen wird einen Teil der f盲lligen Zinsen durch eine Kombination aus Barzahlung (225.000 US-Dollar) und 562.500 Stammaktien zu einem Preis von 0,200 US-Dollar pro Aktie begleichen.
Die zugrunde liegende Anleihe hat einen 9% Zins, der viertelj盲hrlich zahlbar ist und am 18. Oktober 2028 f盲llig wird. Sie kann nach Wahl von Denison zu einem Preis von 0,56 US-Dollar pro Aktie in Stammaktien umgewandelt werden. F3 beh盲lt sich das Ermessen vor, bis zu einem Drittel der Zinsen in Stammaktien zu zahlen, die zum 20-Tage volumengewichteten Durchschnittspreis an der TSX-V bewertet werden.
Die im Rahmen der Schuldenregelung ausgegebenen Aktien unterliegen einer viermonatigen gesetzlichen Haltefrist in Kanada und erfordern die Genehmigung der TSX-V.
- Flexibility to pay up to one-third of interest in shares, preserving cash
- Dilution of shareholders through issuance of 562,500 new shares
- High 9% interest rate on debenture indicating significant cost of capital
Kelowna, British Columbia--(Newsfile Corp. - April 3, 2025) - F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) ("F3" or the "Company") announces that pursuant to its previously announced financing with Denison Mines Corp. from , ("Denison") (TSX: DML) (NYSE American: DNN) it has elected to settle a portion of the interest owed to date in common shares (the "Debt Settlement").
The payment to Denison will consist of
Terms of the Debenture
The Debenture carries a
All securities issued pursuant to the Debt Settlement are subject to the approval of the TSX-V and, when issued, a statutory hold period in Canada expiring four months and one day from the date of issuance.
The shares-for-debt transaction was approved by the Company's Board of Directors pursuant to the terms of the debenture and did not require a formal valuation nor minority shareholder approval pursuant to Multilateral Instrument 61-101.
About F3 Uranium Corp.:
F3 Uranium is a uranium exploration company advancing its newly discovered high-grade JR Zone and exploring for additional mineralized zones on its
The Company's management, headed up by Dev Randhawa as CEO & Chairman, Raymond Ashley as President, and Sam Hartmann as VP Exploration, is the serially successful team that founded Fission Uranium in 2012 and made the Triple R discovery at Patterson Lake South. Previous to that, the same team founded Fission Energy, making the J-Zone discovery at Waterbury Lake in the eastern Athabasca Basin, and built Fission Energy into a TSX Venture 50 Company.
F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778-484-8030
Email: [email protected]
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
Forward Looking Statements
This news release contains "forward-looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements with respect to the use of proceeds, and the potential for development of new uranium operations in northern Saskatchewan. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company's profile on SEDAR+. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather conditions, failure to obtain the necessary equipment or machinery, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.
The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit
FAQ
What are the terms of F3 Uranium's (FUUFF) debt settlement with Denison Mines?
What is the conversion price for FUUFF's debenture with Denison Mines?
When does F3 Uranium's (FUUFF) debenture with Denison Mines mature?
What interest rate does F3 Uranium (FUUFF) pay on the Denison Mines debenture?
