The Prospector News

Baselode Closes $3M Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Baselode Closes $3M Private Placement

 

 

 

 

 

Baselode Energy Corp. (TSX-V: FIND) is pleased to announce that it has closed an additional $413,875.28 across two tranches, bringing its total raise to $3,000,009.92.

 

The net proceeds from the Offering will be used for general corporate purposes but primarily 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 second and third tranche, the Company issued:

 

  • For the second tranche, which closed on October 9, 2020: 630,289 Flow-Through Units at a price of $0.26 per unit for gross proceeds of $163,875.14, 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 $0.40 for a period of 30 months from the date of issue; and
  • For the third tranche, which closed on October 16, 2020: 961,539 Flow-Through Units (“FT Units”) at a price of $0.26 per unit for gross proceeds of $250,000.14, 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 $0.40 for a period of 30 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 Hard Dollar 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 $28,971.27 in cash and 111,428 finder’s warrants. Each finder’s warrant entitles the holder, on exercise thereof, to purchase one common share at a price of $0.26 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 October 16, 2020

Share this news article

MORE or "UNCATEGORIZED"


Talisker Closes $9.15 Million Private Placement

Talisker Resources Ltd. (TSX: TSK) (OTCQB: TSKFF) is pleased to a... READ MORE

August 11, 2022

GoGold Releases 2022 Q3 Financial Results

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to an... READ MORE

August 11, 2022

Bunker Hill Discovers High-Grade Silver Mineralization

HIGHLIGHTS New high-grade silver and lead vein system discovered ... READ MORE

August 11, 2022

Goliath Drills 59.1 Meters of Continuous Sulphide Mineralization Confirming a Mineralized Footprint of 5.25 Square Kilometers; System Remains Wide Open in All Directions

Drill Highlights: 100% of all holes completed to date on the Sure... READ MORE

August 11, 2022

Titan Reports Record Production from Empire State Mines on Q2 2022 Results

Titan Mining Corporation (TSX: TI) announces the results for the... READ MORE

August 11, 2022

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

Government of Canada Supported
Copyright 2022 The Prospector News