Mining
Thursday, February 1st, 2024 8:10 pm EDT
Key Points
- Tisdale Clean Energy Corp. closed a second tranche of its non-brokered private placement, issuing 6,362,216 units at $0.18 per unit, resulting in gross proceeds of $1,145,199.
- Each unit consists of one common share and one share purchase warrant exercisable at $0.30 until February 1, 2026. Additionally, the company paid $17,500 and issued 97,222 share purchase warrants to brokerage firms involved in the offering.
- Combining the first and second tranches, the company raised a total of $1,920,199 through the issuance of 10,667,772 units. Due to strong market interest, the offering size has been increased to 16,666,667 units, with the potential to raise total gross proceeds to $3,000,000 if fully subscribed. The proceeds will be used for general working capital and exploration programs at the South Falcon East uranium project. The final tranche is expected to be completed in the next two weeks, pending regulatory approvals.
TISDALE CLEAN ENERGY CORP. (the “Company” or “Tisdale”) (CSE:TCEC), (OTC:TCEFF), (FSE:T1KC), is pleased to announce that it has closed a second tranche of its non-brokered private placement (the “Offering”) and has issued a further 6,362,216 units (each, a “Unit”) at a price of $0.18 per Unit for gross proceeds of $1,145,199. Each “Unit” issued in the second tranche of the Offering consists of one common share of the Company and one share purchase warrant exercisable at a price of $0.30 until February 1, 2026.
In connection with completion of the second tranche of the Offering, the Company paid $17,500 and issued 97,222 share purchase warrants (each, a “Brokers Warrant”) to certain arms-length brokerage firms who assisted in introducing subscribers to the Offering. Each Brokers Warrant is exercisable at a price of $0.30 until February 1, 2026. All securities issued in connection with the second tranche of the Offering are subject to restrictions on resale until June 2, 2024, in accordance with applicable securities laws.
When combined with the first tranche of the Offering, the Company has raised gross proceeds of $1,920,199 through the issuance of 10,667,772 Units. Due to strong market interest, the Company has elected to increase the size of the Offering by 5,405,405 Units for a total of 16,666,667 Units, which if fully subscribed would increase total gross proceeds to $3,000,000. The Company anticipates completing the final tranche of the Offering in the next two weeks.
Completion of a final tranche of the Offering remains subject to any required regulatory approvals. The proceeds from the Offering will be used for general working capital purposes and for carrying out exploration programs at the South Falcon East uranium project.
About Tisdale Clean Energy Corp.
Tisdale Clean Energy is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, a 12,770-hectare project located in the Athabasca Basin region, Saskatchewan, Canada, which contains the Fraser Lakes B uranium/thorium deposit.
For further information, contact Alex Klenman at info@tisdalecleanenergy.com or 604.970.4330.
