Baselode Energy Announces $8.0 Million Bought Deal Private Placement
Baselode Energy Announces $8.0 Million Bought Deal Private
Placement
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISEMMINATION IN THE UNITED STATES
Toronto, Ontario, November 10, 2021 – Baselode Energy Corp. (TSXV: FIND) (“Baselode” or the
“Company”) is pleased to announce that the Company has entered into an agreement with a syndicate
of underwriters led by PI Financ ial Corp. (collectively, the “ Underwriters”), pursuant to which the
Underwriters have agreed to purchase, on a “bought deal” private placement basis, an aggregate of
6,957,000 units (the “Units”) of the Company at a price of C$1.15 per Unit (the “Offering Price”) for
gross proceeds of C$8.0 million (the “Offering”).
Each Unit shall consist of one common share (“ Share”) and one-half of one transferrable common
share purchase warrant (each whole su ch common share purchase warrant, a “ Warrant”). Each
Warrant shall be exercisable into one additional common share of the Company for 30 months from
the Closing Date at an exercise price of C$1.60.
In addition, the Company has granted the Underwriters an option, exer cisable in whole or in part at
any time prior to closing of the Offering, to offer an additional number of Units representing 15% of the
Offering, on the same terms as the Units.
The net proceeds of the Offering will be used to fund ex ploration and development expenses for the
Catharsis, Hook and Shadow projects and for general working capital purposes . The closing of the
Offering is anticipated to occur on or around November 30, 2021 (the “Closing Date”) and is subject
to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals,
including the acceptance of the TSX Venture Exchange. All securities is sued under the Offering will
be subject to a statutory hold period in Canada expiring four months and one day from the Closing
Date.
This news release does not constitute an offer to se ll 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 19 33, as amended (the “U.S. Securities Act”) or any state securities
laws and may not be offered or so ld within the United States or to U.S. Persons unless registered
under the U.S. Securities Act a nd applicable state securities laws or an exemption from such
registration is available.
About Baselode Energy Corp.
Baselode currently controls 100% of approximately 226,900 hectares for exploration in the Athabasca
Basin area, northern Saskatchewan, Canada. The la nd package is free of any option agreements or
underlying royalties.
Baselode's Athabasca 2.0 exploration thesis is fo cused on discovering near-surface, basement-
hosted, high-grade uranium orebodi es outside of the Athabasca Basi n. The exploration thesis is
further complemented by the Company's preferred use of innovative and well-understood geophysical
methods to map deep structural controls to identify shallow targets for diamond drilling.
For Further Information, Please Contact:
James Sykes
President and CEO
306-221-8717
www.baselode.com