GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) said it has closed a second tranche of its previously announced bought deal private placement financing, underwritten by Sprott Capital Partners, through the issuance of 1,545,000 units for additional proceeds of $339,900.
This brings the total gross proceeds raised to $10,506,760 through the issuance of a total of 47,758,000 units at a price of 22 cents per unit.
Each unit consists of one Class A common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at US$0.24 until October 25, 2025.
READ: GoviEx Uranium closes private placement; raises C$10.1M
The company paid a cash commission equal to 6% of the units sold under the private placement to Sprott and a finder.
The units issued in the second tranche of the private placement have a hold period ending February 28, 2023. The company also corrected its press release of October 25, 2022, relating to the hold period for the units issued in the first tranche of the private placement - this hold period will expire on February 26, 2023.
In addition, securities issued to subscribers in the United States are subject to a hold period under the United States Securities Act of 1933, as amended and can only be resold in strict compliance with the applicable exemptions from the registration requirements of the US Securities Act.
The private placement is subject to the receipt of final approval by the TSX Venture Exchange.
GoviEX is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEX's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela project in Niger, its mine-permitted Mutanga project in Zambia, and its multi-element Falea project in Mali.
Contact the author at jon.hopkins@proactiveinvestors.com