UROY - Uranium Royalty Corp. Announces U.S.$30 Million Bought Deal Financing | Benzinga
VANCOUVER, British Columbia, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Uranium Royalty Corp. (NASDAQ:UROY, TSX:URC) ("URC" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters, led by BMO Capital Markets as sole bookrunner, under which the underwriters have agreed to purchase, on a bought deal basis, 10,205,000 common shares (the "Common Shares"), at a price of U.S.$2.94 (the current approximate equivalent of C$4.00 per Common Share), for gross proceeds of approximately U.S.$30 million (the "Offering"). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about October 17, 2023 and is subject to the Company receiving all necessary regulatory approvals.
The Company currently intends to use the net proceeds of the Offering primarily to fund future purchases of physical uranium, implement its growth strategy through future acquisitions of royalties, streams, physical uranium and similar interests, and for other general working capital purposes.
The Common Shares will be offered by way of a prospectus supplement in all of the provinces and territories of Canada, other than Quebec, pursuant to the Company's base shelf prospectus dated July 20, 2023, and will be offered in the ...