On November 22, 2021, Consolidated Uranium Inc. completed a bought deal private placement of 7,547,453 units at a price of $2.65 per unit for gross proceeds of $20 million, which includes the full exercise of the underwriters’ option. Each unit is comprised of one common share of Consolidated Uranium and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of Consolidated Uranium at a price of $4.00 for a period of 24 months following closing.
In connection with the offering, Energy Fuels Inc. exercised its acceleration right in order to maintain its pro-rata ownership of Consolidated Uranium of approximately 19.9%.
Cassels acted for Consolidated Uranium.