F3 Uranium (TSXV: FUU; OTCQB: FUUFF) has earned gross proceeds of $17.5 million through the sale of 36,0982,474 flow-through shares at $0.485 per share.
The purchase was made by Red Cloud Securities, the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters.
The underwriters have an option to purchase for resale up to another $2.5 million worth of shares in an over-allotment option.
The flow-through units to be sold under the offering will be offered by way of the “accredited investor” and “minimum amount investment” exemptions under National Instrument 45-106 - Prospectus Exemptions.
The offering is expected to close on Sept. 12. F3 will pay the underwriters a cash commission of 5.5% on gross proceeds raised.
F3 will use the money to fund exploration in the Athabasca basin, where it has 18 projects.
For more information, visit www.F3Uranium.com.
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