Peterson McVicar Acts for U3O8 in 2.5 Million Private Placement

On August 3, 2022 U3O8 Corp. (“U3O8” or the “Company”) announced that it had closed its previously announced non-brokered private placement of C$2,500,000 (the “Offering”).


Mega Uranium Ltd. subscribed for 5,140,909 Units (as defined below) under the Offering which, combined with its prior position, brings its holding to 10.1% of the common shares of U3O8 (the “Common Shares”) on a non-diluted basis.


Pursuant to the Offering, the Company sold 22,726,907 units of the Company (the “Units”) at a price of C$0.11 per Unit for aggregate gross proceeds of C$2,499.960. Each Unit is comprised of one Common Share (each, a “Unit Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share (each, a “Warrant Share”) at a price of C$0.15 for a period of three years from date of issuance, subject to an acceleration.


The net proceeds from the Offering will be used to provide additional working capital to reinitiate operations in Colombia to advance the Company’s Berlin Deposit and for general corporate purposes.


U3O8 Corp. is focused on the development of the Berlin Deposit in Colombia. Apart from uranium for clean, nuclear energy, the Berlin Deposit contains battery commodities including nickel, phosphate, and vanadium.


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