Agent syndicate helps finance exploration and development expenditures
By Devika Patel
Knoxville, Tenn., June 13 - Energy Fuels Inc. said it completed a C$6.63 million upsized private placement of units. The deal priced for C$5 million with a 15% greenshoe on May 31.
The company sold 47,380,791 units of one common share and one half-share warrant at C$0.14 per unit on a bought-deal basis.
Each whole warrant is exercisable at C$0.19 until June 15, 2015. The strike price reflects a 5.55% premium to the May 30 closing share price of C$0.18.
The offering was conducted via a syndicate of underwriters led by Dundee Securities Ltd. and including Haywood Securities Inc.
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$6,633,311
|
| Units: | 47,380,791
|
| Price: | C$0.14
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | June 15, 2015
|
| 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$112.85 million
|
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