NUCLEAR FUELS ANNOUNCES $8 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT OF UNITS

In This Article:

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, Oct. 30, 2024 /CNW/ - Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and Haywood Securities Inc. on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought-deal" private placement basis, 20,000,000 units of the Company (the "Units") at a price of $0.40 per Unit (the "Offering Price") for gross proceeds of $8,000,000 (the "Underwritten Offering").

Each Unit will consist of one common share of the Company (a "Unit Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one common share of the Company for 36 months from the closing of the Offering (as defined herein) at a price of $0.55.

The Company shall grant the Underwriters an option to purchase up to an additional 5,000,000 Units at the Offering Price for additional gross proceeds of up to $2,000,000 (the "Underwriters' Option", and together with the Underwritten Offering, the "Offering"), exercisable at any time up to 48 hours prior to the closing of the Offering.

The net proceeds received from the Offering will be used to advance the Company's uranium projects in the United States, as well as for working capital and general corporate purposes.

It is anticipated that closing of the Offering will occur on or about November 20, 2024 or such other date or dates as the Company and the Underwriters may agree. The Offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the Canadian Securities Exchange. The securities to be issued under the Offering will have a hold period of four months and one day from the applicable closing date in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.