Agent syndicate helps finance exploration and development expenditures
By Devika Patel
Knoxville, Tenn., May 31 - Energy Fuels Inc. said it will conduct a C$5 million private placement of units. The deal has a 15% greenshoe.
The company will sell 35,715,000 units of one common share and one half-share warrant at C$0.14 per unit on a bought-deal basis. Each whole two-year warrant will be exercisable at C$0.19. The strike price reflects a 5.55% premium to the May 30 closing share price of C$0.18.
The offering is being conducted via a syndicate of underwriters led by Dundee Securities Ltd. and including Haywood Securities Inc.
Settlement is expected June 13.
Proceeds will be used for exploration and development expenditures, potential mineral property acquisitions and general corporate purposes.
Toronto-based Energy Fuels is a uranium and vanadium exploration and production company.
| Issuer: | Energy Fuels Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5,000,100
|
| Greenshoe: | 15%
|
| Units: | 35,715,000
|
| Price: | C$0.14
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.19
|
| Agent: | Dundee Securities Ltd. (lead), Haywood Securities Inc.
|
| Pricing date: | May 31
|
| Settlement date: | June 13
|
| Stock symbol: | Toronto: EFR
|
| Stock price: | C$0.18 at close May 30
|
| Market capitalization: | C$119.9 million
|
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