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F3 Uranium Corp. (FUUFF) is a uranium project generator and exploration company, with a focus on projects in the Athabasca Basin, known for major high-grade uranium discoveries. The company holds various projects near significant uranium deposits like Triple R, Arrow, and Hurricane. The upcoming summer exploration program in 2024 includes drilling core holes, ground gravity surveys, and Time Domain EM geophysical surveys, with the intent to target uranium mineralization on the Clearwater West Property acquired by SKRR Exploration Inc. F3's experienced management team plans to progress drilling in areas exhibiting increased conductivity and untested airborne EM conductors, aiming to identify potential high-grade uranium zones. The property's location near known uranium deposits and the presence of conductive areas define promising targets for exploration.
F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) announced that shareholders approved the spin-out of F4 Uranium Corp at a Special Meeting held on August 8, 2024. The Arrangement Resolution was approved with 79.81% voting in favor, involving the distribution of F4 common shares to F3 shareholders on a 1:1 basis, followed by a 10:1 rollback. The F4 Equity Incentive Plan was approved with 78.41% support, while the F4 Option Plan Resolution was rejected with 53.64% voting against.
The Arrangement is subject to final approval from the Supreme Court of British Columbia on August 13, 2024, and TSX Venture Exchange acceptance. The expected completion date is around August 15, 2024. F4 has applied to list its common shares on the TSX Venture Exchange.
F3 Uranium Corp (TSXV: FUU) (OTCQB: FUUFF) has announced final assay results from its winter 2024 drill program at the PLN project. Highlights include:
- PLN24-137 in the JR Zone: 15.0m of 3.2% U3O8, including 2.5m of 18.6% U3O8 and 1.5m of 30.3% U3O8
- PLN24-152 south of Harrison Fault: 2.0m @ 0.024% U3O8 and 7.0m @ 0.014% U3O8, including 0.5m @ 0.051% U3O8
The company is focusing exploration on areas near the Harrison Fault and to the southeast, with PLN24-152 representing one of the highest priority exploration targets for follow-up outside the JR Zone.
F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) has announced its participation in a live virtual corporate update hosted by Red Cloud Financial Services on July 30th, 2024 at 2:00 PM ET. The company invites shareholders and interested parties to register for the webinar, which will include a live Q&A session. Ray Ashley will discuss the summer drilling program at PLN and the B1 shear zone, focusing on significant uranium indications. The event replay will be available to all registrants and on the Red Cloud website. This presentation is part of Red Cloud's Virtual Webinar Series and will cover uranium commodities.
F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) has commenced summer drilling on the Clearwater West property, located 13km south of Fission Uranium's Triple R deposit. The property, comprising 11,786 hectares, is an early-stage exploration project for basement-hosted, structurally controlled uranium deposits. SKRR Exploration Inc. has an option to acquire up to 70% interest in the property.
Key points:
- Located ~20 km outside the Athabasca Basin's edge
- 13 km south of Fission Uranium's Triple R deposit
- 17 km south of NexGen's Arrow deposit
- VTEM survey identified EM conductors potentially extending from the PLS property
- F3's experienced team, with a track record of three major uranium discoveries, will operate the project
F3 Uranium Corp. (TSXV: FUU, OTCQB: FUUFF) and SKRR Exploration plan a 2024 summer drilling program at the Clearwater West Property in the Athabasca Basin, Saskatchewan. The program includes five core drill holes and geophysical surveys. SKRR can earn up to 70% interest in the property by making cash payments, issuing shares to F3, and funding exploration work. The property is near major uranium deposits like Fission Uranium's Triple R and NexGen's Arrow. Clearwater West spans 11,786 hectares and has shown potential for basement-hosted uranium deposits. Ground gravity and Time Domain EM surveys will also be conducted to identify new drill targets.
F3 Uranium Corp (TSXV: FUU, OTCQB: FUUFF) reported significant assay results from its winter 2024 drill program at the JR Zone, including a notable 2.0m interval grading 31.4% U3O8 within a 12.0m interval averaging 7.6% U3O8. The summer drilling program continues around the A1 and B1 shears, showing promising structure and radioactivity. Highlight assays include PLN24-116 with high-grade uranium, and ongoing exploration at B1 showing potential. Noteworthy summer findings include intermittent radioactivity at multiple drill sites, indicating potential uranium mineralization.
F3 Uranium Corp. (TSXV: FUU, OTCQB: FUUFF) has announced a definitive arrangement agreement with F4 Uranium Corp. to spin out 17 uranium exploration projects in the Athabasca Basin to F4. These projects include properties such as Murphy Lake, Cree Bay, and many others, totaling 168,422 hectares. F3 shareholders will receive one F4 share for every 10 F3 shares they hold. The PLN Project will remain with F3. The transaction will be conducted via a plan of arrangement under the Canada Business Corporations Act and requires several approvals, including court and TSXV approvals, as well as two-thirds shareholder approval at a special meeting expected in Q3 2024. The transaction aims to unlock value for F3 shareholders, preserve focus on the PLN Project, and leverage F4's experienced management team.
F3 Uranium Corp. has announced a definitive option agreement with Canadian GoldCamps Corp. to allow Canadian GoldCamps to earn up to a 70% interest in F3's Murphy Lake Property in the Athabasca Basin, Saskatchewan. To acquire this interest, Canadian GoldCamps will make non-refundable cash payments totaling $1.1 million and incur expenditures totaling $18 million over a three-year period. This transaction, if completed, will be a fundamental change for Canadian GoldCamps, which will shift focus to mining exploration and development and plan to list on the Canadian Securities Exchange as a mining issuer. The agreement includes a provision for Canadian GoldCamps to issue shares equal to 9.9% of its outstanding shares to F4 Uranium Corp., a subsidiary of F3. Furthermore, F4 will receive a 2% net smelter royalty on the property.
F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) has closed a 'bought deal' private placement, raising C$10,074,414.59. This includes full exercise of the Underwriters' over-allotment option. The Company sold 7,409,908 federal flow-through units (FFT Units) at C$0.5355 each, and 10,447,235 Saskatchewan flow-through units (SFT Units) at C$0.5845 each, totaling 17,857,143 FT Units at a blended price of C$0.5642 per FT Unit.
Red Cloud Securities Inc. led the underwriting, with Canaccord Genuity Corp., Haywood Securities Inc., SCP Resource Finance LP, and Eight Capital also participating. Each FT Unit includes one common share and half a common share purchase warrant, exercisable at C$0.56 until May 30, 2026.
The offering consists of two tranches: C$4,999,999.74 raised under 'listed issuer financing' exemption, and the rest under 'accredited investor' and 'minimum amount investment' exemptions. A commission of C$540,342.80 was paid to the Underwriters, along with 957,589 Broker Warrants. Funds will support exploration in the Athabasca Basin. Final TSX Venture Exchange approval is pending.
F3 Uranium has revised the pricing for its private placement, now aiming for gross proceeds of over C$10.0 million. The Company will issue 16,071,429 flow-through units (FT Units) at a blended price of C$0.5642 per unit. The offering is underwritten by Red Cloud Securities. Each FT Unit includes one common share and one half of a warrant, allowing the purchase of an additional share at C$0.56 within 24 months. An option to purchase additional units could increase the total proceeds to C$10,074,414.59. The funds will be used for exploration in the Athabasca Basin. The offering is set to close on May 28, 2024, with certain units being immediately tradeable and others subject to a restricted period. Underwriters will receive a 5.5% commission and broker warrants, with reduced terms for units sold under the President's List.
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