Baselode Energy Upsizes Private Placement for Up to $3.5 Million
Baselode Energy Upsizes Private Placement
for Up to $3.5 Million
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
TORONTO
,
Dec. 9, 2020
/CNW/ - Baselode Energy Corp. ("
Baselode
" or the "
Company
") (TSXV:
FIND) is pleased to announce that due to strong investor demand, it has increased its previously
announced non-brokered private placement offering to up to
C$3.5M
(the "Offering"), consisting of
up to 8,750,000 flow-through units (the "FT Units") of the Company at a price of
C$0.40
per FT Unit.
Each FT Unit shall be comprised of one flow-through share in the capital of the Company (each a
"FT Share") and one half of one Common Share purchase warrant (each a "Warrant"). Each
Warrant shall be exercisable into one Common Share at a price of
C$0.60
at any time on or before
the date, which is 24 months after the Offering's closing date.
Red Cloud Securities Inc. will be acting as a finder on behalf of the Company in connection with the
Offering.
The Offering's net proceeds will be used for exploration work at the Company's Shadow and
Hook projects
. Both projects are testing for near-surface, basement-hosted, high-grade uranium
targets in the Athabasca Basin area of northern Saskatchewan,
Canada
.
The closing of the Offering, which is expected to occur on or before
December 14, 2020
, is subject
to receipt of all necessary regulatory approvals, including the approval of the listing of the common
shares on the TSX Venture Exchange. The Offering securities issuable will be subject to a statutory
hold period of four months and one day in accordance with applicable securities laws. The Company
confirms that there is no undisclosed material information.
The securities offered 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 U.S. state securities laws, and may not
be offered or sold in
the United States
or to, or for the account or benefit of,
United States
persons
absent registration or an applicable exemption from the registration requirements of the U.S.
Securities Act and applicable U.S. state securities laws. This press release does not constitute an
offer to sell or the solicitation of an offer to buy securities in
the United States
, nor in any other
jurisdiction.
About Baselode Energy
Baselode is a uranium exploration company focused on discovering a uranium orebody in the
Athabasca
Basin area 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
.
SOURCE
Baselode Energy Corp.
View original content:
http://www.newswire.ca/en/releases/archive/December2020/09/c9694.html
%SEDAR: 00044947E
For further information:
Baselode Energy Corp., FIND on the TSXV, James Sykes, CEO and
President, [email protected], 306-221-8717, www.baselode.com
CO: Baselode Energy Corp.
CNW 12:22e 09-DEC-20