US Nuclear Raises $611,000 Net Working Capital

Rhea-AI Summary

On May 5, 2022, US Nuclear Corp. (OTC-QB: UCLE) secured $611,000 in net working capital through a securities purchase agreement with Mast Hill Fund L.P. This funding comes via a $0.20 per share fixed price promissory note and cash warrants with a $0.75 strike price. The capital will enhance procurement efficiency, upgrade existing products, introduce new offerings, and expand marketing efforts in high-growth areas like nuclear power and safe water monitoring. The initiative aims to boost sales and production speed, enhancing overall revenue and customer satisfaction.

Positive

• Raised $611,000 in net working capital.
• Funding will improve procurement efficiency and supply chain constraints.
• Plans to upgrade best-selling products and launch new ones.
• Aims to expand sales and marketing in high-growth markets.

Negative

• None.

LOS ANGELES, CA, May 17, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – On May 5, 2022, US Nuclear Corp. (OTC-QB: UCLE) closed on a securities purchase agreement with Mast Hill Fund L.P. to raise $611,000 net working capital through a $0.20 per share fixed price promissory note for common stock, as well as cash warrants with a $0.75 strike price. US Nuclear’s use of funds from this capital raise will be to improve procurement efficiency and supply chain constraints, upgrade best-selling products as well bring important new products to the market, and expand sales and marketing for high growth markets such as nuclear power, drones, sensors, and safe air and drinking water monitoring.  Expediting sales and speed of production will lead to increased revenue and customer satisfaction.  

Please refer to US Nuclear’s recent 8-K filing for full details on the capital raise. 

Safe Harbor Act

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.

Investors may find additional information regarding US Nuclear Corp. at the SEC website at http://www.sec.gov, or the company’s website at www.usnuclearcorp.com

CONTACT:
US Nuclear Corp. (OTC-QB: UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Rachel Boulds, Chief Financial Officer
(818) 883 7043
Email: info@usnuclearcorp.com

FAQ

What is the capital raise amount for US Nuclear Corp (UCLE) announced in the May 2022 press release?

US Nuclear Corp. announced a capital raise of $611,000.

What is the price per share for the promissory note issued by US Nuclear Corp (UCLE)?

The promissory note is priced at $0.20 per share.

What will US Nuclear Corp (UCLE) use the raised funds for?

The funds will be used to improve procurement efficiency, upgrade products, and expand marketing efforts.

What financial instruments were involved in US Nuclear Corp's (UCLE) capital raise?

The capital raise involved a fixed price promissory note and cash warrants.

What are the strike prices for the cash warrants associated with US Nuclear Corp (UCLE)?

The cash warrants have a strike price of $0.75.