F3 Issues Common Shares Debt Settlement of Interest Owed

Paying part of the quarterly interest in shares preserves cash for that portion while diluting existing shareholders.

Rhea-AI Summary

F3 Uranium (FUUFF) plans to issue 797,872 common shares to Denison Mines to settle part of its accrued quarterly interest.

The payment will also include $225,000 in cash. The shares have a deemed price of $0.141 each, based on the 20-day volume-weighted average trading price as at September 28, 2026. The debenture carries a 9% coupon payable quarterly, matures October 18, 2028, and is convertible at Denison's option at $0.56 per share. F3 may pay up to one-third of interest in shares. The board approved the settlement, but issuance remains subject to TSX Venture Exchange approval.

Positive

• Minor point. Forward-looking: it has not happened yet and may not happen.Settlement of part of accrued quarterly interest through 797,872 common shares preserves cash for that portion.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.Issuance of 797,872 common shares at $0.141 each will dilute existing shareholders.
• Minor point. Forward-looking: it has not happened yet and may not happen.Quarterly interest settlement also requires a $225,000 cash payment to Denison.
• Minor pointDebenture carries a 9% coupon payable quarterly and matures October 18, 2028.
• Minor point. Forward-looking: it has not happened yet and may not happen.Denison's option to convert the debenture at $0.56 per share creates potential further dilution.
• Minor pointSettlement securities remain subject to TSX Venture Exchange approval.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Kelowna, British Columbia--(Newsfile Corp. - October 2, 2026) - F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (FSE: GL7) ("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 797,872 common shares of F3 with a calculated deemed price of $0.141 per share being the 20-day VWAP of the shares as at September 28, 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 
Emai: ir@f3uranium.com

ON BEHALF OF THE BOARD
"Ross McElroy"
Ross McElroy, 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/317248

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the terms of F3 Uranium's interest settlement with Denison Mines?

F3 plans to pay Denison $225,000 in cash and issue 797,872 common shares for accrued interest for the past quarter. The shares have a deemed price of $0.141 each, based on the 20-day volume-weighted average trading price as at September 28, 2026.

What resale restriction applies to F3 Uranium's interest settlement shares?

When issued, the settlement securities will have a statutory hold period in Canada expiring four months and one day from issuance.

Did F3 Uranium's shares-for-debt settlement require minority shareholder approval?

The settlement did not require minority shareholder approval or a formal valuation under Multilateral Instrument 61-101. F3's board approved the transaction pursuant to the debenture's terms.