First Uranium Resources Ltd. Announces Upsize Private Placement Financing to $8M
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES
FIRST URANIUM RESOURCES LTD.
1500 – 1055 West Georgia Street
Vancouver, British Columbia V6E 4N7
FIRST URANIUM RESOURCES LTD. ANNOUNCES UPSIZE PRIVATE PLACEMENT
FINANCING TO $8M
Vancouver, British Columbia, March 24, 2022 – First Uranium Resources Ltd. (the “Company”
or “First Uranium”) (CSE: URNM) (OTCPK:KMMIF) (FSE:5KA0) is pleased to announce it
has increased the size of the previously announced financing to C$8,000,000. The Company will
issue subscription receipts of up to $8,000,000 gross proceeds at a price of $0.35 per subscription
receipt for a total of up to 22,857,150 subscription receipts. Each subscription receipt is convertible
into one common share and one half of a share purchase warrant, each whole warrant being
exercisable into a common share for a price of $0.50 per share. The proceeds of the subscription
private placement will be utilized for exploration work, and acquisition and development work on
the Company’s Arkansas project described herein. Conversion of the subscription receipts is
subject to the Company entering into a definitive option agreement with the Southwind
shareholders and the proceeds from the sale of the subscription receipts will be held in escrow until
the condition is satisfied.
The subscription receipt private placement will be brokered by Emerging Equities Inc. of Calgary,
Alberta and is anticipated to close on or about March 31, 2022.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended
(the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to
persons in the United States absent registration or an exemption from such registration
requirements. This press release shall not constitute an offer to sell or the solicitation of an offer
to buy nor shall there be any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About First Uranium
First Uranium is a resource exploration issuer focused on locating and exploring natural resource
projects in North America. The Company has one project in Saskatchewan, Canada.
For further information contact:
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Kelvin Lee
Chief Financial Officer
Email: [email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this news release.
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 regulatory actions, market prices, and 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 or opinions, or other factors, should change.