F3 Announces the Appointment of Ross McElroy as CEO
The shareholder-approved share consolidation still requires final exchange acceptance before it can take effect.
Rhea-AI Summary
F3 Uranium (FUUFF) appointed co-founder Ross McElroy CEO and director, effective September 24, 2026.
Dev Randhawa stepped down as CEO and chairman and became executive chairman at the same time. McElroy, a registered professional geologist, led Fission Uranium through its $1.14 billion acquisition by Paladin Energy in December 2024. He later served as president and CEO of Apollo Silver and, most recently, was appointed president and CEO of Shine Minerals.
F3 also intends to consolidate its common shares into one new share for every ten existing shares. Shareholders approved the consolidation at the May 14, 2026, annual and special meeting. It remains subject to final acceptance by the TSX Venture Exchange; an effective date has not been determined. Proportionate ownership will not change except where fractional shares arise and are handled under the consolidation terms. F3 focuses on the JR and Tetra zones at its Patterson Lake North project.
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Kelowna, British Columbia--(Newsfile Corp. - September 24, 2026) - F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) ("F3" or "the Company") is pleased to announce the appointment of Mr. Ross McElroy as CEO and Director effective immediately. Mr. McElroy is a registered professional Geologist and brings several decades of extensive uranium industry and corporate leadership experience to F3. He co-founded both F3 and Fission Uranium with Dev Randhawa and served as the CEO of Fission Uranium through the company's
Mr. Randhawa will step down as CEO & Chairman of F3 and assume the role of Executive Chairman effective immediately.
Mr. Dev Randhawa commented: "Ross and I have been partners in uranium exploration for decades, and I've seen firsthand the tremendous value his geological expertise and industry leadership bring to a company. We built Fission Uranium together and ultimately delivered a world-class uranium discovery that was acquired by Paladin. I'm very pleased to welcome Ross back to F3, where his experience will be invaluable as we advance PLN and pursue our next major discoveries."
F3 Uranium also announces that it intends to proceed with a consolidation of its issued and outstanding common shares based on one (1) post-consolidation common share for every ten (10) pre-consolidation common shares (the "Consolidation"). The Consolidation is being undertaken pursuant to shareholder approval obtained at the Company's May 14, 2026, annual and special meeting.
The Consolidation remains subject to final acceptance of the TSX Venture Exchange, and the effective date will be announced once determined.
Following completion of the Consolidation, every ten (10) common shares held by a shareholder immediately prior to the effective time will be consolidated into one (1) common share.
The Consolidation will not change a shareholder's proportionate ownership interest in the Company, except to the extent that fractional shares are created and dealt with in accordance with the applicable terms of the Consolidation.
About F3 Uranium Corp.:
F3 is a uranium exploration company, focusing on the high-grade JR Zone and new Tetra Zone discovery 13 km to the south in the Patterson West area on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 currently has three properties in the Athabasca Basin: Patterson Lake North, Minto, and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world's largest high-grade uranium deposits including Paladin's Triple R project and NexGen's Arrow project.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the expected timing and acceptance of the Consolidation, are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it.
Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y 9Y2
Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315827
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Who became F3 Uranium's CEO in September 2026?
Ross McElroy became F3 Uranium's CEO and a director, effective September 24, 2026. Dev Randhawa stepped down as CEO and chairman and became executive chairman at the same time.