Baselode Announces $1.2M Private Placement
Baselode Announces $1.2M Private Placement
TORONTO
,
Sept. 14, 2020
/CNW/ - Baselode Energy Corp. ("
Baselode
" or the "
Company
")
(TSXV: FIND) is pleased to announce a non-brokered private placement of flow-through units (the
"FT Units") and non-flow-through units (the "NFT Units") for gross proceeds of up to
$1,200,000
(the
"Offering"). Red Cloud Securities Inc. is acting as a finder in connection with the Offering.
"The company recently received final results from the Mobile MT survey at our 100% owned
Shadow Project that are highlight attractive. The survey outlined an extensive structural network
which shares geophysical similarities with other high-grade uranium deposits, such as NexGen's
Arrow and Cameco's Key Lake deposits. This financing will allow us to initiate a maiden diamond drill
program to test these shallow targets," said
James Sykes
, President & CEO
Each FT Unit is being offered at a price of
C$0.26
and will be comprised of one common share of
the Company and one half non flow-through common share purchase warrant (a "Warrant").
Concurrently, NFT Units will be offered at a price of
$0.26
per NFT Unit consisting of one common
share and one common share purchase warrant. One common share purchase warrant from either
the FT Units or the NFT Units will entitle the holder to purchase one non flow-through common share
of the Company at a price of
$0.40
for a period expiring 30 months following the closing date of the
Offering.
The net proceeds from the Offering will be used for general corporate purposes but primarily used
for exploration work at the company's
Shadow Project
and
Hook Project
. Both projects are testing
for basement uranium targets in the
Athabasca
Basin in
Saskatchewan, Canada
.
About Baselode Energy
Baseload is a uranium exploration company less than 29 million shares outstanding. Baselode is
focused on discovering a uranium orebody in the
Athabasca
basin in
Saskatchewan, Canada
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Certain information in this press release may contain forward-looking statements. This information
is based on current expectations that are subject to significant risks and uncertainties that are
difficult to predict. Actual results might differ materially from results suggested in any forward-
looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from those reflected in the
forward looking-statements unless and until required by securities laws applicable to Baselode
Energy Corp. Additional information identifying risks and uncertainties is contained in filings by the
Company with Canadian securities regulators, which filings are available under Baselode Energy
Corp. profile at
www.sedar.com
.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in
the United States
. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within
the United States
or to, or for the account or benefit of,
U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws,
unless an exemption from such registration is available.
SOURCE
Baselode Energy
View original content:
http://www.newswire.ca/en/releases/archive/September2020/14/c6210.html
%SEDAR: 00044947E
For further information:
Baselode Energy Corp., FIND on the TSXV, James Sykes, President and
CEO, [email protected], 306-221-8717, www.baselode.com
CO: Baselode Energy
CNW 12:38e 14-SEP-20