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Baselode Energy (TSXV:FIND) announced both flow-through and non flow-through non-brokered private placements

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The company plans to raise gross proceeds of up to $1.2 million from the placement of up to approximately 4.6 million units, with both units priced at $0.26. The flow-through units consist of 1 share and one-half a warrant, while the non flow-through units consist of 1 share and a full warrant, with the warrants exercisable at $0.40 for 30 months.

Additional Information:

Company: Baselode Energy Corp.
Website: http://www.baselode.com
Stock Symbol: TSXV: FIND
Date Published: Sep 15, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Baselode Energy Corp. has announced both flow-through and non flow-through non-brokered private placements.

The company plans to raise gross proceeds of up to $1.2 million from the placement of up to approximately 4.6 million units, with both units priced at $0.26.

The flow-through units consist of 1 share and one-half a warrant, while the non flow-through units consist of 1 share and a full warrant, with the warrants exercisable at $0.40 for 30 months.

Red Cloud Securities is acting as a finder in connection with the offering.

The shares are currently trading at $0.37.

The proceeds will be used for exploration work on the company’s projects and for general corporate purposes.

Baselode is new company that began trading on the TSX Venture Exchange on June 10th.

Its initial property was the Mann property located in Milner Township approximately 5 kilometers southwest of the town of Gowganda in northeastern Ontario.

The property has had considerable activity over the years by numerous operators, including several drill programs, as well as a past-producing silver mine, which yielded 330,000 ounces of silver before 1987.

On June 10th, the company announced the appointment of James Sykes, a renowned uranium exploration geologist who has been involved in several discoveries in Canada’s Athabasca Basin, the world’s leading source of high-grade uranium.

With its new focus on uranium in the Athabasca Basin, the company immediately announced the acquisition of the 100% owned Shadow Project followed by the July 7th acquisition of the 100% owned Hook Project.

Based on the preliminary results of the company’s recent heliborne mobile MT survey, the company expanded its land position at its Shadow uranium property, which now covers 46,000 hectares and encompasses a larger area along the Virgin River Shear Zone.

James Sykes, President & CEO, stated: “The company recently received final results from the Mobile MT survey at our 100% owned Shadow Project that are highlight attractive. The survey outlined an extensive structural network which shares geophysical similarities with other high-grade uranium deposits, such as NexGen's Arrow and Cameco's Key Lake deposits. This financing will allow us to initiate a maiden diamond drill program to test these shallow targets.”

For more information, please visit the company’s website www.baselode.com, contact James Sykes, President and CEO, at 306-221-8717 or email jsykes@UraniumGeologist.com.

I’m Megan Edwards for Investmentpitch Media