Future Fuels Inc. Announces Closing of Private Placement
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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSMINATION IN THE UNITED STATES.
FUTURE FUELS INC. ANNOUNCES
CLOSING OF PRIVATE PLACEMENT
VANCOUVER, B.C. – December 24, 2024, Future Fuels Inc . (the “Company” or “ Future Fuels”)(TSXV:
FTUR) is pleased to announce it has closed its previously announced non-brokered private placement (the
“Private Placement”) of flow-through common shares (the “FT Shares”), as defined in subsection 66(15)
of the Income Tax Act (Canada) (the “ Tax Act”). The Company issued 2,222,22 2 FT Shares at a price of
$0.45 per FT Share for gross proceeds of $1,000,000.
In connection with the closing of the Private Placement, the Company paid a cash finders fee in the amount
of $59,999.00. All securities issued in connection with the Private Placement are subject to a hold period
of four months and one day pursuant to applicable securities laws. The gross proceeds from the FT Shares
will be used by the Company for “Canadian exploration expenses” that are “flow-through critical mineral
mining expenditures” (as such terms are defined in the Tax Act) on the Company’s prospective mineral
resource assets in Canada.
About Future Fuels Inc.
Future Fuels’ principal asset is the Hornby Uranium Project, covering the entire 3,407 km² Hornby Basin in
north-western Nunavut, a geologically promising area with over 40 underexplored uranium showings.
Additionally, Future Fuels holds the Covette Property in Quebec’s James Bay region, comprising 65 mineral
claims over 3,370 hectares.
On behalf of the Board of Directors
FUTURE FUELS INC.
“Rob Leckie”
Rob Leckie, CEO Tel: 604.681.1568
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Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and other statements that are not historical facts.
Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”,
“expects” and similar expressions. All statements other than statements of historical fact included in this
news release are forward -looking statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Important factors that could cause actual results to
differ materially from the Company’s expectations include but are not limited to market conditions and
the risks detailed from time to tim e in the filings made by the Company with securities regulators. The
reader is cautioned that assumptions used in the preparation of any forward -looking information may
prove to be incorrect. Events or circumstances may cause actual results to differ mater ially from those
predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any
forward-looking information, incl uding, but not limited to, statements regarding the Company’s
anticipated business and operational activities, and the Company’s plans with respect to the exploration
or advancement of its mineral properties and the use of the proceeds from the Private Placement. Factors
that could cause actual results to vary from forward -looking statements or may affect the operations,
performance, development and results of the Company’s business include, among other things, the
Company's ability to generate sufficient cash flow to meet its current and future obligations; that mineral
exploration is inherently uncertain and may be unsuccessful in achieving the desired results; that mineral
exploration plans may change and be re-defined based on a number of factors, many of which are outside
of the Company’s control; the Company's ability to access sources of debt and equity capital; competitive
factors, pricing pressures and supply and demand in the Company’s industry; and general economic and
business. Such information, although considered reasonable by management at the time of preparation,
may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking
statements contained in this news release are expressly qualified by this cau tionary statement. The
forward-looking statements contained in this news release are made as of the date of this news release
and the Company will update or revise publicly any of the included forward -looking statements as
expressly required by applicable law.