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 risolverà 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. È convertibile a discrezione di Denison in azioni ordinarie a 0,56 dollari per azione. F3 mantiene la facoltà 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 liquidación de deuda con Denison Mines Corp relacionado con su acuerdo de financiación de octubre de 2023. La empresa liquidará una parte de los intereses adeudados a través de una combinación de pago en efectivo (225,000 dólares) y 562,500 acciones ordinarias a 0.200 dólares por acción.
El pagaré subyacente tiene un cupón del 9%, pagadero trimestralmente, con vencimiento el 18 de octubre de 2028. Es convertible a opción de Denison en acciones ordinarias a 0.56 dólares por acción. F3 mantiene la discreción de pagar hasta un tercio de los intereses en acciones ordinarias, valoradas al precio medio ponderado por volumen de las últimas 20 jornadas de negociación en el TSX-V.
Las acciones emitidas en la liquidación de deuda estarán sujetas a un periodo de bloqueo legal de cuatro meses en Canadá y requerirán la aprobación del TSX-V.
F3 우라늄 주식회사 (OTCQB: FUUFF)는 2023년 10월 금융 계약과 관련하여 데니슨 마인스 주식회사와 채무 해결 계약을 발표했습니다. 이 회사는 225,000달러의 현금 지급과 주당 0.200달러의 562,500주 보통주를 조합하여 일부 이자를 해결할 것입니다.
기초 채권은 9%의 이자율을 가지며, 분기마다 지급되고, 2028년 10월 18일에 만기가 됩니다. 이는 데니슨의 선택에 따라 주당 0.56달러의 보통주로 전환할 수 있습니다. F3는 TSX-V에서 최근 20일 거래량 가중 평균 가격으로 평가된 보통주로 이자의 최대 1/3을 지급할 수 있는 재량을 유지합니다.
채무 해결에서 발행된 주식은 캐나다에서 4개월의 법적 보유 기간에 적용되며 TSX-V의 승인이 필요합니다.
F3 Uranium Corp (OTCQB: FUUFF) a annoncé un accord de règlement de dette avec Denison Mines Corp concernant leur accord de financement d'octobre 2023. L'entreprise réglera une partie des intérêts dus par une combinaison de paiement en espèces (225 000 dollars) et de 562 500 actions ordinaires à 0,200 dollars par action.
La débenture sous-jacente a un taux d'intérêt de 9%, payable trimestriellement, arrivant à échéance le 18 octobre 2028. Elle peut être convertie à l'option de Denison en actions ordinaires à 0,56 dollars par action. F3 se réserve le droit de payer jusqu'à un tiers des intérêts en actions ordinaires, évaluées au prix moyen pondéré par volume des 20 derniers jours de négociation sur le TSX-V.
Les actions émises dans le cadre du règlement de la dette seront soumises à une période de blocage légale de quatre mois au Canada et nécessiteront 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 angekündigt. Das Unternehmen wird einen Teil der fälligen 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 vierteljährlich zahlbar ist und am 18. Oktober 2028 fällig wird. Sie kann nach Wahl von Denison zu einem Preis von 0,56 US-Dollar pro Aktie in Stammaktien umgewandelt werden. F3 behält 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 October 2023, ("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: ir@f3uranium.com
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 https://www.newsfilecorp.com/release/247324
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?
