Future Fuels Inc has announced a non-brokered private placement of up to 3,750,000 units (the “Units”) at a price of $0.40 per Unit for gross proceeds of up to $1,500,000.
Each Unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.60 for a period of two years from the date of issuance.
Proceeds from the offering will be used for general corporate purposes, which may include investor relations activities, and to advance exploration and development at the Company’s Hornby Uranium Project in Nunavut.
The Company may pay finder’s fees in accordance with applicable securities laws and TSX Venture Exchange policies. All securities issued will be subject to a hold period of four months and one day from the date of issuance.
Closing of the private placement is subject to TSX Venture Exchange approval.
The Company also wishes to announce that it has increased the maximum budget of its renewed engagement with MCS Market Communication Service GmbH (“MCS”) for the continued provision of a range of on-line marketing services, including campaign creation and production of marketing materials, as well as research and analytics, by up to an additional 100,000 euros. The services are expected to run until December 10, 2025, or until budget exhaustion. No securities have been provided to MCS or its principals as compensation.
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