U3O8 Corp. Announces Upsizing of Previously Announced C$500,000 Financing to C$1,000,000
36 Toronto Street T: 416-868-1491
Suite 1050 www.u3o8corp.com
Toronto, ON M5C 2C5 NEX: UWE.H
Canada
Press Release
U3O8 Corp. Announces Upsizing of Previously Announced C$500,000 Financing
to C$1,000,000
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario – February 12, 2021 – U3O8 Corp. (NEX: UWE.H ), (“U3O8” or the “ Company”)
announces that it is increasing the size of the non-b rokered private placement of units of the Company
(“Units”) announced on January 27, 2021 from $500,000, to gross proceeds of up to $1,000,000 (the
“Offering”).
Pricing
The Company intends to sell up to 6,666,666 Units at a price of C$0.15 per Unit. Each Unit shall consist
of a common share of the Company (a “ Common Share”) and a common share purchase warrant (a
“Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of
C$0.20 for a period of 12 months following closing of the Offering. T he Units will be offered by private
placement only (and without the use of an offering memorandum as defined in OSC Rule 14-501).
Use of Proceeds
The Company intends to use the net proceeds raised from the sale of the Units to advance the Company’s
current battery commodity - uranium projects, the s earch for additional compelling opportunities in the
resource sector, and for general working capital.
Hold Period
Securities issued pursuant to the Offering shall be subject to a four-month plus one day hold period
commencing on the day of the closing of the Offe ring under applicable Canadian securities laws. The
Offering is subject to the approval of the TSX Venture Exchange. The Offering is expected to close on or
about February 28, 2020, subject to the receipt of all necessary regulatory approvals.
Commission
In connection with the Offering, the Company may pay to eligible finders a cash commission of up to 7% of
the proceeds from the sale of Units sold with finders’ assistance and iss ue to finders, compensation
warrants equal to up to 7% of Units sold with finders’ assistance. Admission of subscribers brought into the
placement by finders shall be at the Company’s discretion. Any finders’ warrants issued will be issued on
the terms and with the excise of Warrants underlying the Units.
About U3O8 Corp.
U3O8 Corp. is focused on exploration and development of deposits of uranium and battery commodities in
South America. Battery commodities that occur with uranium resources include vanadium, nickel, zinc and
phosphate. The Company’s mineral resources estimates were made in accordance with National
Instrument 43-101, and are contained in the following deposits:
Berlin Deposit, Colombia – a PEA shows that Berlin also has low-cost uranium production
potential due to revenue that would be generated from by-products of phosphate, vanadium, nickel,
rare earths (yttrium and neodymium) and other metals that occur within the deposit; and
Laguna Salada Deposit, Argentina – a PEA shows this near surface, free-digging uranium -
vanadium deposit has low production-cost potential. The Company has entered into an option
agreement with International Consolidated Uranium Inc. for the sale of the Laguna Salada Deposit
under the terms outlined in the press release of December 14, 2020.
2
A PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them that would enable them to be categorized
as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
For further information, please contact:
Carolina Diaz at [email protected] or phone (416) 868-1491 or Richard Spencer, President & CEO,
U3O8 Corp., Tel: (647) 292-0225 [email protected]
Forward-Looking Statements
This news release includes certain “forward look ing statements” related wi th the development plans,
economic potential and growth targets of U3O8 Corp ’s projects. Forward-looking statements consist of
statements that are not purely historical, including st atements regarding beliefs, plans, expectations or
intensions for the future, and include, but not limited to, statements with respect to: (a) the completion of a
reactivation transaction; (b) the low-cost and near-term development of Laguna Salada, (c) the Laguna
Salada and Berlin PEAs, (d) the potential of the Kurupung district in Guyana, (e) impact of the UpgradeTM
process on expected capital and operating expenditures, and (f) the price and market for uranium. These
statements are based on assumptions, including tha t: (i) the ability to find a profitable undertaking or
successfully conclude a purchase of such an undert aking at all or on terms which are commercially
acceptable; (ii) actual results of our exploration, resource goals, metallurgical testing, economic studies and
development activities will continue to be positive and proceed as planned, and assumptions in the Laguna
Salada and Berlin PEAs prove to be accurate, (iii) a joint venture will be formed with the provincial petroleum
and mining company on the Argentina project, (iv) requisite regulatory and governmental approvals will be
received on a timely basis on terms acceptable to U3O8 Corp., (v) economic, political and industry market
conditions will be favourable, and (vi) financial markets and the market for uranium will improve for junior
resource companies in the short-term. Such statem ents are subject to risks and uncertainties that may
cause actual results, performance or developments to differ materially from those contained in such
statements, including, but not limited to: (1) changes in general economic and financial market conditions,
(2) changes in demand and prices for minerals, (3) t he Company’s ability to source commercially viable
reactivation transactions and / or establish appropriate joint venture partnerships, (4) litigation, regulatory,
and legislative developments, dependence on regulatory approvals, and changes in environmental
compliance requirements, community support and t he political and economic climate, (5) the inherent
uncertainties and speculative nature associated with ex ploration results, resource estimates, potential
resource growth, future metallurgical test results, changes in project parameters as plans evolve, (6)
competitive developments, (7) availability of future financing, (8) the effects of COVID-19 on the business
of the Company, including, without limitation, effects of COVID-19 on ca pital markets, commodity prices,
labour regulations, supply chain disruptions and dom estic and international travel restrictions, (9)
exploration risks, and other factors beyond the control of U3O8 Corp. including those factors set out in the
“Risk Factors” in our Annual Information Form dated March 27, 2019 for the fiscal year ended December
31, 2018 available on SEDAR at www.sedar.com. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the time of preparation, may prove to
be imprecise and, as such, undue reliance should not be placed on forward-looking statements. U3O8 Corp.
assumes no obligation to update such information, except as may be required by law. For more information
on the above-noted PEAs, refer to t he September 18, 2014 technical re port titled “Preliminary Economic
Assessment of the Laguna Salada Uranium-Vanadium Deposit, Chubut Province, Argentina” and the
January 18, 2013 technical report titled “U3O8 Corp . Preliminary Economic Assessment on the Berlin
Deposit, Colombia.”
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accep ts responsibility for the adequacy or accuracy of
this press release.