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Saville Resources ( (TSE:FTUR) ) has shared an update.
Future Fuels Inc. has completed a C$2 million non-brokered private placement under the listed issuer financing exemption, issuing 2,469,135 flow-through units at C$0.81 each. Each unit consists of one charity flow-through share and one non-listed warrant exercisable at C$1.00 for 24 months, with the securities being freely tradable under applicable Canadian securities laws.
The company will apply the gross proceeds to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures on its 100%-owned Hornby Basin Project in Nunavut. Future Fuels emphasized that none of the funds will be used for its proposed acquisition of Hatchet Uranium Corp. or related properties until that transaction receives approval from the TSX Venture Exchange, highlighting a clear allocation of capital toward advancing its existing flagship asset.
More about Saville Resources
Future Fuels Inc. is a Canadian mineral exploration company focused on uranium and critical minerals, with its principal asset being the 100%-owned Hornby Project covering the 3,407 km² Hornby Basin in north-western Nunavut. The company also holds the Covette Property in Quebec’s James Bay region, comprising 65 mineral claims over 3,370 hectares, positioning it within emerging uranium and critical mineral districts in Canada.
Average Trading Volume: 75,965
Technical Sentiment Signal: Sell
Current Market Cap: C$42.23M
See more insights into FTUR stock on TipRanks’ Stock Analysis page.