NexGen Announces Exercise of $22.5 Million Over-Allotment Option in Connection with Recently Completed Bought Deal Financing
NexGen Announces Exercise of $22.5 Million Over-Allotment Option in
Connection with Recently Completed Bought Deal Financing
VANCOUVER, BC
,
March 16, 2021
/CNW/ -
NexGen Energy Ltd. ("NexGen" or the "Company")
(TSX: NXE) (NYSE: NXE)
is pleased to announce that the
Underwriters (as defined below) have exercised their over-allotment option (the "Over-Allotment Option"), in full, to purchase an additional 5,010,000 common
shares in the capital of the Company (the "Common Shares") at a price of
$4.50
per Common Share, in connection with the Company's recently completed
underwritten public offering of 33,400,000 Common Shares, which closed on
March 11, 2021
(the "Offering"). Upon closing of the Over-Allotment Option, the
Company received additional gross proceeds of
$22,545,000
, resulting in total gross proceeds from the Offering of approximately
$172.8 million
.
The Offering was completed through a syndicate of underwriters led by BMO Nesbitt Burns Inc. and Canaccord Genuity Corp., and including Eight Capital,
Raymond James Ltd., TD Securities Inc., Cormark Securities Inc., Haywood Securities Inc., Sprott Capital Partners LP, and PI Financial Corp. (collectively the
"Underwriters").
As previously announced, the Company intends to use the net proceeds from the Offering for general corporate purposes, including the continued development of
the Rook I Project and general working capital
The Company filed a preliminary short form prospectus on
February 25, 2021
(the "Preliminary Prospectus") and an amended and restated preliminary short form
prospectus (the "A&R Preliminary Prospectus") on
February 26, 2021
. The Company filed a final short form prospectus (together with the Preliminary Prospectus
and the A&R Preliminary Prospectus, the "Prospectuses") on
March 8, 2021
. The Prospectuses were filed with the securities regulatory authorities in each of the
provinces of
Canada
, except
Quebec
. The Prospectuses were also filed with the U.S. Securities and Exchange Commission as part of the Company's
Registration Statement on Form F-10 (File No. 333-253512) in accordance with the Multijurisdictional Disclosure System established between
Canada
and
the
United States
.
About NexGen
NexGen is a
British Columbia
corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly
experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through
discovery to production. NexGen owns a portfolio of prospective uranium exploration assets in the
Athabasca
Basin,
Saskatchewan, Canada
, including a 100%
interest in Rook I, location of the Arrow Deposit discovered in
February 2014
which is in development.
SEC Standards
Estimates of mineralization and other technical information included or referenced in this news release have been prepared in accordance with NI 43-101, which
differ from the SEC's mining disclosure requirements. Accordingly, information contained or referenced in this news release containing descriptions of the
Company's mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of
United States
federal securities laws and the rules and regulations thereunder.
Forward-Looking Information
The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995
and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to,
statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not
always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward looking
information in this press release includes, but is not limited to, statements regarding
the use of proceeds of such
O
ffering
.
Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen's
business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions,
including among others, that the proposed transaction will be completed, the results of planned exploration activities are as anticipated, the price of uranium,
the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment,
supplies and governmental and other approvals required to conduct NexGen's planned exploration activities will be available on reasonable terms and in a
timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the
Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be
no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results,
performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or
implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing,
uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, imprecision
of Mineral Resource Estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration
risks, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of
interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, and other
factors discussed or referred to in the Company's Annual Information Form dated
March 11, 2020
under "Risk Factors".
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking
information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The
Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable
securities laws.
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SOURCE
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For further information:
Leigh Curyer, Chief Executive Officer, NexGen Energy Ltd., +1 604 428 4112, [email protected], www.nexgenenergy.ca;
Travis McPherson, Senior Vice President, Corporate Development, NexGen Energy Ltd., +1 604 428 4112, [email protected],
www.nexgenenergy.ca
CO: NexGen Energy Ltd.
CNW 08:25e 16-MAR-21