F3 Issues Common Shares Debt Settlement of Interest Owed
F3 Issues Common Shares Debt Settlement of
Interest Owed
Kelowna, British Columbia--(Newsfile Corp. - July 7, 2026) -
F3 Uranium Corp.
(TSXV: FUU)
(OTCQB: FUUFF)
("
F3
" or the "
Company
") notes
that it wishes to issue Common shares to Denison
Mines Corp. ("
Denison
")
(TSX: DML) (NYSE American: DNN)
pursuant its financing agreement as
entered into in
October 2023
. Denison
has elected to settle a portion of the accrued
interest for the past
quarter with the acceptance of common shares of F3 (the "Debt Settlement").
The payment to Denison will consist of a cash payment of $225,000 and a total of 755,034 common
shares of F3 with a calculated deemed price of $0.149 per share being the 20-day VWAP of the shares
as at June 30, 2026
Original Terms of the Debenture
The Debenture carries a 9% coupon (the "
Interest
"), payable quarterly, has a maturity date of October
18, 2028, and is convertible at Denison's option into common shares of the Company at a conversion
price of $0.56 per share (the "
Conversion Price
"). F3, at its sole discretion, may pay up to one-third of
the Interest in common shares of F3 issued at a price per common share equal to the volume-weighted
average trading price of F3's common shares on the TSX Venture Exchange (the "
TSXV
") for the 20
trading days ending on the day prior to the date on which such payment of Interest is due.
Full details of
the debenture are noted in the press releases of
October 6 and October 18, 2023
.
All securities issued pursuant to the Debt Settlement are subject to the approval of the TSX-V and, when
issued, a statutory hold period in Canada expiring four months and one day from the date of issuance.
The shares-for-debt transaction was approved by the Company's Board of Directors pursuant to the
terms of the debenture and did not require a formal valuation nor minority shareholder approval pursuant
to Multilateral Instrument 61-101.
About F3 Uranium Corp.:
F3 is a uranium exploration company, focusing on the high-grade JR Zone and new Tetra Zone
discovery 13 km to the south in the PW area on its Patterson Lake North (PLN) Project in the Western
Athabasca Basin. F3 currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto,
and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world's
largest high-grade uranium deposits including Paladin's Triple R project and NexGen's Arrow project.
F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778-484-8030
Email:
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". All
statements in this news release, other than statements of historical facts, that address events or
developments that the Company expects to occur, are forward-looking statements. Forward-looking
statements are statements that are not historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential"
and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those in the forward-looking statements. Factors that could
cause the actual results to differ materially from those in forward-looking statements include ability to
complete the private placement, market prices, continued availability of capital and financing, and
general economic, market or business conditions. Investors are cautioned that any such statements
are not guarantees of future performance and actual results or developments may differ materially
from those projected in the forward-looking statements. Forward-looking statements are based on the
beliefs, estimates and opinions of the Company's management on the date the statements are made.
Except as required by applicable securities laws, the Company undertakes no obligation to update
these forward-looking statements in the event that management's beliefs, estimates, opinions, or other
factors should change.
The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press
release, and does not accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/304341