The first of two tranches of the Private Placement closed with the issuance of 4,000,000 Units, each consisting of one Common Share of the Company and one Common Share Purchase Warrant at a price of
Additionally, the Company maintains a Warrant Acceleration option allowing Generation to accelerate the expiry date of the Warrants if the daily trading price of the Common Shares on the
As part of the closing, Generation will compensate the Finding Agent with a commission of 4.0% cash and 4.0% Purchase Warrants based on the gross proceeds of the Offering, and will receive such number of broker warrants as is equal to 8.0% of the number of Units sold under the Offering. All securities issued and including Warrants will be subject to a four (4) month holding period.
The Company intends to use the net proceeds to help define new drill targets on the
Contact:
President and Chief Executive Officer
Tel: 778-388-5258
Email: admin@generationuranium.com
About Generation Uranium
The Company is a natural resource company engaged in the exploration and development of mineral properties. The Company holds a 100% interest in the
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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