First Uranium Amends Exercise Price and Expiry Date of Warrants IN Connection with Transaction to Acquire Reefton Goldfields
LEGAL_42515241.4
FIRST URANIUM RESOURCES LTD.
1500 – 1055 West Georgia Street
Vancouver, British Columbia V6E 4N7
FIRST URANIUM AMENDS EXERCISE PRICE AND EXPIRY DATE OF WARRANTS IN
CONNECTION WITH TRANSACTION TO ACQUIRE REEFTON GOLDFIELDS
Vancouver, B.C., October 27 , 20 23 – First Uranium Resources Ltd . (“First Uranium ” or the
“Company”) (CSE: URNM, OTCQB: KMMIF) announces that , in connection to its previously
announced transaction to acquire Reefton Goldfields Inc., the Company intends to amend the exercise
price of its 7,500,000 outstanding common share purchase warrants (the “Warrants ”). The Warrants
were originally issued in connection with its non- brokered private placement offering of units, which
closed on November 10, 2021 (the “Offering”). Each Warrant is currently exercisable into one common
share in the capital of the Company (a “Share ”) at an exercise price of $0.40 per Share on or before
November 10, 2023.
The exercise price of the Warrants is being re -priced from $0.40 per Share to $0.20 per Share and the
expiry date is being extended from November 10, 2023 to March 31, 2025. As required by the policies of
the Canadian Securities Exchange (the “CSE”), the Warrants will also be amended such that the expiry
date of the Warrants will be subject to additio nal acceleration as follows: if the closing price (or closing
bid price on days when there are no trades) of the Shares on the CSE exceeds CAD$ 0.25 for 10
consecutive trading days, then, upon the Company giving holders of Warrants (“Warrantholders”)
notice of a cceleration of the expiry date by issuing a news release announcing such accelerated expiry
date, the Warrants will only be exercisable for a period of 30 days following the date on which notice is
sent to the Warrantholders. All other terms of the Warrants shall remain the same.
None of the foregoing Warrants have been exercised as of the date of this news release. Insiders of the
Company hold less than 10% of the Warrants. Additionally, Warrants issued to finders in connection with
the Offering are not eligible for amendment.
The amendments are subject to the acceptance of the CSE and the consent of the Warrantholders.
About First Uranium
First Uranium is a resource exploration issuer focused on locating and exploring natural resource projects
in North America. For further information, please refer to First Uranium’s disclosure record on SEDAR +
(www.sedarplus.ca).
On Behalf of the Company
Robert Dubeau
Chief Executive Officer.
For further information, please contact the Company at 604-687-7130 or by email at:
The CSE has neither approved nor disapproved the contents of this press release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
LEGAL_42515241.4
This news release includes cer tain statements that may be deemed “forward -looking statements”. All statements in
this new 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 and specifically include statements regarding the proposed transaction with
Reefton Goldfields Inc .; obtaining CSE approval to amend the Warrant terms; and the Company obtaining the
Warrantholders’ consent to amend the Warrant terms. 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 di ffer materially from those in the forward -looking statements. 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 th e 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 for ward-looking
statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.