F3 Issues Shares for Interest Debt Settlement
F3 Uranium Corp. (OTCQB: FUUFF) has announced a debt settlement arrangement with Denison Mines Corp. related to an outstanding financing agreement from October 2023. The company will settle a portion of accrued interest through a combination of $225,000 in cash and 478,723 common shares at a deemed price of $0.235 per share.
The underlying debenture, which matures on October 18, 2028, carries a 9% coupon payable quarterly and is convertible at Denison's option into common shares at $0.56 per share. Under the terms, F3 has the discretion to pay up to one-third of the interest in common shares based on the 20-day VWAP on the TSX-V.
F3 Uranium Corp. (OTCQB: FUUFF) ha annunciato un accordo di risoluzione del debito con Denison Mines Corp. relativo a un finanziamento in sospeso risalente a ottobre 2023. La società salderà una parte degli interessi maturati mediante una combinazione di 225.000 dollari in contanti e 478.723 azioni ordinarie a un prezzo stabilito di 0,235 dollari per azione.
Il debito sottostante, che scade il 18 ottobre 2028, prevede una cedola del 9% pagabile trimestralmente ed è convertibile, a discrezione di Denison, in azioni ordinarie al prezzo di 0,56 dollari per azione. Secondo i termini, F3 ha la facoltà di pagare fino a un terzo degli interessi in azioni ordinarie, basandosi sulla media ponderata dei prezzi degli ultimi 20 giorni (VWAP) sul TSX-V.
F3 Uranium Corp. (OTCQB: FUUFF) ha anunciado un acuerdo para liquidar una deuda con Denison Mines Corp. relacionado con un financiamiento pendiente desde octubre de 2023. La empresa saldará una parte de los intereses acumulados mediante una combinación de 225,000 dólares en efectivo y 478,723 acciones ordinarias a un precio estimado de 0.235 dólares por acción.
El pagaré subyacente, que vence el 18 de octubre de 2028, tiene un cupón del 9% pagadero trimestralmente y es convertible a opción de Denison en acciones ordinarias a 0.56 dólares por acción. Según los términos, F3 tiene la discreción de pagar hasta un tercio de los intereses en acciones ordinarias basándose en el VWAP de 20 días en la TSX-V.
F3 Uranium Corp. (OTCQB: FUUFF)는 2023년 10월 체결된 미지급 금융 계약과 관련하여 Denison Mines Corp.과 부채 정산 합의를 발표했습니다. 회사는 누적 이자 일부를 225,000달러 현금과 478,723 보통주를 주당 0.235달러로 평가하여 결제할 예정입니다.
기본 채권은 2028년 10월 18일 만기이며, 분기별로 지급되는 9% 쿠폰이 포함되어 있고, Denison의 선택에 따라 주당 0.56달러로 보통주로 전환 가능합니다. 조건에 따라 F3는 TSX-V의 20일 VWAP를 기준으로 최대 이자 3분의 1을 보통주로 지급할 재량이 있습니다.
F3 Uranium Corp. (OTCQB : FUUFF) a annoncé un accord de règlement de dette avec Denison Mines Corp. concernant un accord de financement en cours depuis octobre 2023. La société règlera une partie des intérêts accumulés par une combinaison de 225 000 $ en espèces et 478 723 actions ordinaires à un prix réputé de 0,235 $ par action.
Le débenture sous-jacent, qui arrive à échéance le 18 octobre 2028, porte un coupon de 9% payable trimestriellement et est convertible, à l'option de Denison, en actions ordinaires au prix de 0,56 $ par action. Selon les termes, F3 a la discrétion de payer jusqu'à un tiers des intérêts en actions ordinaires, basées sur la moyenne pondérée des prix sur 20 jours (VWAP) à la TSX-V.
F3 Uranium Corp. (OTCQB: FUUFF) hat eine Schuldenreglungsvereinbarung mit Denison Mines Corp. bezüglich einer ausstehenden Finanzierungsvereinbarung vom Oktober 2023 bekannt gegeben. Das Unternehmen wird einen Teil der aufgelaufenen Zinsen durch eine Kombination aus 225.000 US-Dollar in bar und 478.723 Stammaktien zu einem festgelegten Preis von 0,235 US-Dollar pro Aktie begleichen.
Die zugrunde liegende Schuldverschreibung, die am 18. Oktober 2028 fällig wird, trägt einen Kupon von 9%, der vierteljährlich zahlbar ist, und ist nach Wahl von Denison in Stammaktien zu 0,56 US-Dollar pro Aktie wandelbar. Gemäß den Bedingungen hat F3 das Ermessen, bis zu einem Drittel der Zinsen in Stammaktien basierend auf dem 20-Tage-VWAP an der TSX-V zu zahlen.
- Company maintains flexibility to pay up to one-third of interest in shares, preserving cash
- Board approval received for shares-for-debt transaction
- No formal valuation or minority shareholder approval required for the transaction
- Dilution of existing shareholders through issuance of 478,723 new shares
- Ongoing debt obligations with 9% interest rate through 2028
Kelowna, British Columbia--(Newsfile Corp. - June 30, 2025) - F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) ("F3" or the "Company") notes that pursuant an outstanding financing agreement with Denison Mines Corp. from October 2023, ("Denison") (TSX: DML) (NYSE American: DNN) it has elected to settle a portion of the interest accrued to date in common shares (the "Debt Settlement").
The payment to Denison will consist of
Terms of the Debenture as previously announced
The Debenture carries a
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 Uranium is a uranium exploration company, focusing on the recently discovered high-grade JR Zone on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 Uranium 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 and Nexgen's Arrow.
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/257336
FAQ
What is the interest payment structure for F3 Uranium's (FUUFF) debenture with Denison Mines?
How many shares is F3 Uranium (FUUFF) issuing for the debt settlement in June 2025?
When does F3 Uranium's (FUUFF) debenture with Denison Mines mature?
What is the conversion price for Denison Mines' debenture in F3 Uranium (FUUFF)?
Are the new shares issued by F3 Uranium (FUUFF) subject to any holding period?
