Nuclear Fuels Corporation recently announced that it has successfully completed the bought deal private placement of 5 million common share units of the company for total proceeds of $5 million.
This private placement, which was co-led by Scotiabank and Cormark Securities Inc., saw the common share units sold at a price of $1.00 per common share unit. Nuclear Fuels Corporation has received assurances from the Selling Syndicate that the investor relations services agreement between the Corporation and Cameron McMaster Syndicate Inc. (the “Corporate Services Agreement”) that was entered into in connection with the private placement has been fulfilled and is terminated.
Nuclear Fuels Corporation is a Canadian-based, TSX-listed firm engaged in providing advanced nuclear fuel technologies and services to power generator roleplayers in the nuclear energy industry. The company’s primary business is to commercialize its proprietary nuclear fuel > technology to generate clean energy from nuclear power plants.
The funds from this private placement will be used for working capital, general administration expenses, and for possible strategic acquisitions. Nuclear Fuels believes that this capital will allow it to strengthen its balance sheet to pursue growth opportunities in the nuclear fuel technology industry.
This financing marks the third successful private placement round for Nuclear Fuels Corporation in the last two years. The company has successfully raised over $25 million in financing to date. With this injection of funds, Nuclear Fuels Corporation is well positioned to continue its mission to develop, license, and market its proprietary nuclear fuel technology globally.
With this fresh capital, the firm hopes to establish profitable contracts with power generator roleplayers and create strategic partnerships to expand into the multi-billion dollar nuclear energy industry.
The Nuclear Fuels Corporation is dedicated to its mission of providing clean energy solutions and is committed to utilizing its resources to achieve this goal. This private placement will help the firm to build a stronger balance sheet, provide working capital, and enhance its capabilities to become an industry leader in nuclear fuel technology.