U92 Energy Announces Public Offering of up to $6 Million

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Postmedia has not reviewed the content. by GlobeNewswire U92 Energy Announces Public Offering of up to $6 MillionAuthor of the article: You can save this article by registering for free here. 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(“U92” or the “Company”) (TSXV: UTWO) is pleased to announce that it has filed a preliminary short form prospectus (the “Preliminary Prospectus”) with the securities regulatory authorities in each of the provinces of Canada, except Québec, in connection with an offering (the “Offering”) of units of the Company (the “Units”). The Offering is being conducted on a commercially reasonable efforts agency basis for the issuance of a minimum of 9,000,000 Units and a maximum of 15,000,000 Units at a price of $0.40 per Unit (the “Offering Price”) for gross proceeds between $3,600,000 and $6,000,000, subject to the over-allotment option described below.Each Unit will consist of one common share of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one Share at a price of $0.65 per Share for a period of 48 months following the date of issuance.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe Offering is expected to be completed pursuant to the terms of an agency agreement to be entered into between the Company and Haywood Securities Inc., together with a syndicate of agents (collectively, the “Agents”).The Units will be offered by way of a short-form prospectus to be filed with the securities regulatory authorities in each of the provinces of Canada, except Québec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Units will also be sold (i) in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”); and (ii) in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction.The Agents have been granted an option (the “Over-Allotment Option”) to purchase up to an additional 15% of the maximum number of Units issuable under the Offering at the Offering Price, exercisable in whole or in part, up to 48 hours prior to closing of the Offering.The net proceeds from the Offering will be used to advance U92’s Kurupung uranium project in Guyana, for payment of deferred cash consideration for the Guyana projects and for general working capital and corporate purposes, as disclosed in the Preliminary Prospectus.The Offering is expected to close on or about August 11, 2026, or such other date as the Company and Agents may agree. Closing of the Offering is subject to certain conditions, including but not limited to the receipt of all regulatory approvals, including the approval of the TSX Venture Exchange (“TSXV”).The Agents will receive upon closing of the Offering compensation comprised of a cash commission equal to 6% of the gross proceeds and broker warrants of the Company to purchase such number of Shares as is equal to 6% of the Units sold in the Offering (subject to a reduction, in each case, to 2% for Units sold to purchasers on a president’s list). Each broker warrant will entitle the holder to acquire one Share at the Offering Price for a period 24 months following the date of issuance.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Access to the Preliminary Prospectus and any amendments to such document will be provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment thereto. The Preliminary Prospectus is accessible on SEDAR+ at www.sedarplus.ca. Alternatively, an electronic or paper copy of the Preliminary Prospectus and any amendment to such document may be obtained without charge, from the Agents by email at ecm@haywood.com or by providing the contact with an email address or address, as applicable. The Preliminary Prospectus contains important, detailed information about the Company and the Offering. Prospective investors should read the Preliminary Prospectus before making an investment decision.The securities offered pursuant to the Offering have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Units or securities comprising the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction.On behalf of U92 Energy Corp.Adam ClodeChief Executive OfficerFor further information, visit www.u92corp.com or contact:Adam ClodeEmail: info@u92corp.comTel: (800) 567-8181U92 Energy Corp. is a Canadian exploration company listed on the TSX Venture Exchange. The Company is focused on the exploration, and advancement of its high-quality, advanced-staged uranium assets in South America.The Company’s flagship Kurupung project (“Kurupung”), is situated in the Republic of Guyana, boasting over 129,723 metres of drilling and a historical Indicated mineral resource of 10.6 million pounds (Mlbs), and an Inferred mineral resource of 10.0Mlbs, at a cut-off grade of 0.03% (300ppm) U₃O₈. The historic mineral resource occurs in four deposits where mineralization remains open along strike and down plunge. There are eight additional targets in which prior drilling intersected significant uranium grades that remain to be followed up with further drilling.Through systematic exploration, and disciplined capital allocation, the Company aims to unlock the full value of Kurupung while positioning itself as a leading uranium-focused exploration and development company in South America.To find out more about U92 Energy Corp. (TSX-V: UTWO), visit the Company’s website at www.u92corp.comCautionary Note Regarding Forward-Looking StatementsInformation set forth in this news release contains “forward-looking information” within the meaning of applicable Canadian securities laws (“forward-looking statements”). Forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Such forward-looking statements include statements relating to the Offering, including the completion and anticipated timing for completion of the Offering, the potential size of the Offering, any exercise of the Over-Allotment Option, the Company’s intended use of the net proceeds of the Offering, regulatory and exchange approvals including the receipt of approval from the TSXV, and the Company’s exploration and development plans. U92 cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to U92’s limited operating history, its exploration and development activities on its mineral properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, U92 does not undertake to publicly update or revise forward-looking information.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.