F3 Issues Common Shares Debt Settlement of Interest Owed

Rhea-AI Summary

F3 Uranium (OTCQB:FUUFF) will settle part of accrued interest owed to Denison Mines through a mixed cash-and-share payment under their October 2023 financing agreement.

The payment includes $225,000 in cash and 755,034 common shares at a deemed price of $0.149, subject to TSX-V approval and a four‑month hold.

Positive

• Partial interest paid with 755,034 shares preserves $225,000 cash outflow size versus full cash settlement
• Debenture terms fixed: 9% coupon, October 18, 2028 maturity, $0.56 conversion price give investors defined capital structure
• Ability to pay up to one-third of interest in shares provides ongoing balance sheet flexibility

Negative

• Issuing 755,034 new common shares creates equity dilution for existing shareholders
• Debenture carries a relatively high 9% coupon, adding ongoing interest expense until October 18, 2028
• Debt Settlement and future share-based interest payments depend on TSX-V approval and impose a four-month-plus-one-day hold period

News Market Reaction – FUUFF

+2.33%

+2.33% Session close to close

In the Jul 8 session, FUUFF gained 2.33%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Kelowna, British Columbia--(Newsfile Corp. - July 7, 2026) - F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) ("F3" or the "Company") notes that it wishes to issue Common shares to Denison Mines Corp. ("Denison") (TSX: DML) (NYSE American: DNN) pursuant its financing agreement as entered into in October 2023. Denison has elected to settle a portion of the accrued interest for the past quarter with the acceptance of common shares of F3 (the "Debt Settlement").

The payment to Denison will consist of a cash payment of $225,000 and a total of 755,034 common shares of F3 with a calculated deemed price of $0.149 per share being the 20-day VWAP of the shares as at June 30, 2026

Original Terms of the Debenture

The Debenture carries a 9% coupon (the "Interest"), payable quarterly, has a maturity date of October 18, 2028, and is convertible at Denison's option into common shares of the Company at a conversion price of $0.56 per share (the "Conversion Price"). F3, at its sole discretion, may pay up to one-third of the Interest in common shares of F3 issued at a price per common share equal to the volume-weighted average trading price of F3's common shares on the TSX Venture Exchange (the "TSXV") for the 20 trading days ending on the day prior to the date on which such payment of Interest is due. Full details of the debenture are noted in the press releases of October 6 and October 18, 2023.

All securities issued pursuant to the Debt Settlement are subject to the approval of the TSX-V and, when issued, a statutory hold period in Canada expiring four months and one day from the date of issuance.

The shares-for-debt transaction was approved by the Company's Board of Directors pursuant to the terms of the debenture and did not require a formal valuation nor minority shareholder approval pursuant to Multilateral Instrument 61-101.

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 PW area on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 currently has 3 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.

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2

Contact Information

Investor Relations
Telephone: 778-484-8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include ability to complete the private placement, market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions, or other factors should change.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304341

FAQ

What did F3 Uranium (FUUFF) announce about its debt settlement with Denison Mines on July 7, 2026?

F3 Uranium announced a partial interest settlement to Denison Mines using cash and shares. According to the company, the payment totals $225,000 in cash plus 755,034 common shares at a deemed price of $0.149 per share.

How many F3 Uranium (FUUFF) shares are issued in the Denison debt settlement and at what price?

F3 Uranium plans to issue 755,034 common shares to Denison at a deemed price of $0.149. According to the company, this price reflects the 20‑day volume‑weighted average trading price as of June 30, 2026.

What are the key terms of F3 Uranium’s debenture held by Denison Mines (FUUFF)?

The debenture carries a 9% coupon and matures on October 18, 2028. According to F3 Uranium, Denison may convert it into common shares at a $0.56 conversion price, with interest payable quarterly in cash or partly in shares.

How does the interest payment flexibility work on F3 Uranium’s (FUUFF) debenture to Denison?

F3 may pay up to one-third of quarterly interest in common shares instead of cash. According to the company, those shares are priced at the 20‑day volume‑weighted average price on the TSX Venture Exchange before each interest due date.

Are the new F3 Uranium (FUUFF) shares from the Denison debt settlement immediately tradable?

The new shares are not immediately tradable in Canada. According to F3 Uranium, securities issued in the Debt Settlement will be subject to TSX-V approval and a statutory hold period of four months and one day from issuance.

Did F3 Uranium (FUUFF) require minority shareholder approval for the Denison shares-for-debt transaction?

No, minority shareholder approval was not required for this transaction. According to F3 Uranium, the Board approved the shares-for-debt deal under the debenture terms and it did not trigger formal valuation or minority approval under Multilateral Instrument 61-101.