Future Fuels Announces Completion of $2 Million Life Offering
Rhea-AI Summary
Future Fuels (TSXV:FTUR / OTCQX:FTURF) completed a non-brokered "LIFE Offering" of 2,469,135 flow-through units for gross proceeds of C$2,000,000 at C$0.81 per unit on April 8, 2026.
Each unit includes one flow-through share and one warrant exercisable at C$1.00 for 24 months; proceeds are earmarked for Canadian exploration expenses on the 100%-owned Hornby Basin Project and will not be used for the Hatchet Uranium acquisition until TSXV approval.
Positive
- Gross proceeds of C$2.0M secured
- Proceeds dedicated to Hornby Basin exploration expenses
- Units issued at C$0.81 with 24-month warrants at C$1.00
- Securities issued under listed issuer financing exemption without resale restrictions
Negative
- Warrant exercise at C$1.00 may dilute shareholders if exercised
- Proceeds cannot fund Hatchet Uranium acquisition until TSXV approval
News Market Reaction – FTURF
In the Apr 13 session, FTURF declined 6.77%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / April 8, 2026 / Future Fuels Inc. (TSXV:FTUR)(OTCQX:FTURF)(FWB:S0J) ("Future Fuels" or the "Company") is pleased to announce that, further to its previous news releases dated February 3, 2026 and March 19, 2026, it has completed a non-brokered private placement for gross proceeds of C
Each FT Unit consists of one charity "flow-through" common share (each, an "FT Share" and collectively, the "FT Shares") and one common share purchase warrant (each an "FT Warrant" and collectively, the "FT Warrants"), issued as "flow-through shares", as defined in subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act"). Each FT Warrant is exercisable to acquire one common share (each a "Warrant Share", and collectively, the "Warrant Shares") at a price of
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the LIFE Offering was made to purchasers resident in all provinces of Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). The securities offered under the LIFE Offering pursuant to the Listed Issuer Financing Exemption are not subject to resale restrictions in accordance with applicable Canadian securities laws. There is an amended and restated offering document dated March 19, 2026 related to the LIFE Offering that can be accessed under the Company's issuer profile on SEDAR+ at www.sedarplus.ca and on the Company's website at: www.futurefuelsinc.com.
The gross proceeds of the LIFE Offering will be used to incur "Canadian exploration expenses" that are "flow-through critical mineral mining expenditures", within the meaning of the Tax Act, on the Company's
This news release does not constitute an offer to sell or a solicitation of an offer to sell any 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Future Fuels Inc.
Future Fuels' principal asset is the Hornby Project, covering the entire 3,407 km² Hornby Basin in north-western Nunavut, a geologically promising area with over 40 underexplored uranium showings, including the historic Mountain Lake System. Additionally, Future Fuels holds the Covette Property in Quebec's James Bay region, comprising 65 mineral claims over 3,370 hectares.
On Behalf of the Board of Directors
~Rob Leckie~
Rob Leckie
CEO, Director
Future Fuels Inc.
info@futurefuelsinc.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company's exploration and development plans with respect to its projects and statements regarding the LIFE Offering including, without limitation, statements regarding the Company's anticipated business and operational activities. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, the inherently unpredictable nature of resource exploration, market conditions and the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect, and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward- looking statements as expressly required by applicable law.
SOURCE: Future Fuels Inc.
View the original press release on ACCESS Newswire