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