The Prospector News

Baselode Closes $3.5M Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Baselode Closes $3.5M Private Placement

 

 

 

 

 

Baselode Energy Corp. (TSX-V: FIND) is pleased to announce that it has closed its previously announced and upsized $3.5M private placement for gross proceeds of $3,505,000. The net proceeds from the Offering will be used for exploration work at the company’s Shadow Project and Hook Project. Both projects are targeting basement-hosted uranium in the Athabasca Basin area, northern Saskatchewan, Canada.

 

Upon closing of the financing, the Company issued:

 

  • 8,445,000 Flow-Through Units at a price of $0.40 per unit for gross proceeds of $3,378,000, where each FT Unit consists of one flow through common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.60 for a period of 24 months from the date of issue; and
  • 317,500 Non-Flow-Through Units at a price of $0.40 per unit for gross proceeds of $127,000, where each NFT Unit consists of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.60 for a period of 24 months from the date of issue.

 

In accordance with applicable securities laws in Canada, the common shares and warrants issued as part of the Flow-Through Units and the Non-Flow-Through Units under this Offering will be subject to a four month and one day hold period from the date of closing of the Offering.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

In consideration for introducing certain subscribers to the Offering for the two additional tranches, the Company has paid certain arm’s length finders an aggregate of $214,711.56 in cash and 536,779 finder’s warrants. Each finder’s warrant entitles the holder, on exercise thereof, to purchase one common share at a price of $0.40 for a period of 24 months.

 

About Baselode Energy

 

Baseload is a uranium exploration company which is focused on discovering a uranium orebody in the Athabasca basin in Saskatchewan, Canada.

 

Posted December 15, 2020

Share this news article

MORE or "UNCATEGORIZED"


HECLA ACQUIRES ALEXCO RESOURCE

America’s largest and highest-grade silver producer adding ... READ MORE

July 5, 2022

ALPHAMIN ANNOUNCES RECORD QUARTERLY TIN PRODUCTION/ Q2 2022 EBITDA GUIDANCE OF US$66.5m/ DIVIDEND DECLARED

Alphamin Resources Corp. (TSX-V:AFM) (JSE AltX:APH) a producer of... READ MORE

July 5, 2022

Golden Shield Closes C$6.3M Private Placement

Golden Shield Resources Corp. (CSE: GSRI) (Frankfurt: 4LE0) is pl... READ MORE

July 5, 2022

Argonaut Gold Closes Previously Announced C$195,300,000 Equity Offering and Signs Commitment Letter for US$250 Million Credit Facilities

Argonaut Gold Inc. (TSX: AR) is pleased to announce it has closed... READ MORE

July 5, 2022

QC Copper & Gold Reports 10 New Holes to Convert Waste into In-Pit Mineralization

QC Copper and Gold Inc. (TSX-V: QCCU) (OTCQB: QCCUF) is pleased t... READ MORE

July 5, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News