/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Dec. 15, 2020 /CNW/ - International Consolidated
Uranium Inc. ("CUR" or the "Company") (TSXV: CUR) is
pleased to announce an increase to its previously announced
non-brokered private placement to C$5,500,000 (the "Offering"). Under the
Offering, up to 6,875,000 units of the Company (the "Units")
will be sold at a price of C$0.80 per
Unit. Each Unit will be comprised of one common share of the
Company (each, a "Common Share") and one half of one common
share purchase warrant (a "Warrant"). Each Warrant will
entitle the holder thereof to acquire one Common Share at a price
of C$1.20 for a period of 36 months
from the closing date of the Offering. Red Cloud Securities Inc.
will be acting as a finder in connection with the Offering.
Philip Williams, President and
CEO commented "We are very pleased to increase the size of today's
offering based on strong institution demand. It's a testament to
our model that we are attracting additional investment from high
quality, dedicated uranium investors such as Sachem Cove and Segra
Capital. With these additional funds in hand we will look to
accelerate the business plan of consolidating the global uranium
sector as interest in the space continues to pick up steam."
The net proceeds from the Offering will be used for general
working capital purposes. The closing of the Offering is
expected to occur on or about December 30,
2020 and is subject to receipt of all necessary regulatory
approvals. The Common Shares and any Common Shares issuable upon
the exercise of the Warrants and finder's warrants issued with
respect to the Offering will be subject to a hold period of four
months and one day in accordance with applicable securities
laws.
This news release does not constitute an offer of securities for
sale in the United States. The
securities being offered have not been, nor will they be,
registered under the United States
Securities Act of 1933, as amended, and such securities may
not be offered or sold within the United
States absent U.S. registration or an applicable exemption
from U.S. registration requirements.
About International Consolidated Uranium
International Consolidated Uranium Inc. (formally, NxGold Ltd.)
is a Vancouver-based exploration
and development company. The Company has entered option agreements
to acquire five uranium projects in Australia, Canada and Argentina each with significant past
expenditures and attractive characteristics for development; with
Mega Uranium Ltd. (TSX: MGA) the right to acquire a 100% interest
in the Ben Lomond and Georgetown
uranium projects in Australia;
with IsoEnergy Ltd. (TSXV: ISO) the right to acquire a 100%
interest in the Mountain Lake uranium project in Nunavut, Canada; with a private individual the
right to acquire a 100% interest in the Moran Lake uranium and
vanadium project in Labrador,
Canada; and with U3O8 Corp. (TSXV: UWE.H), the right to
acquire a 100% interest in the Laguna Salada uranium and vanadium
project in Argentina. The Company
entered into the Mountain lake option agreement with IsoEnergy on
July 16, 2020, and the transaction
remains subject to regulatory approval, as does the transaction
with U3O8 Corp. on the Laguna Salada Project. In addition, the
Company owns 80% of the Mt. Roe gold project located in the Pilbara
region of Western Australia and
has entered into an earn-in agreement with Meliadine Gold Ltd. to
earn up to a 70% interest in the Kuulu Project (formerly known as
the Peter Lake Gold Project) in Nunavut.
Neither TSX Venture Exchange nor its Regulations Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statement Regarding "Forward-Looking"
Information
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
"Forward-looking information" includes, but is not limited to,
statements with respect to activities, events or developments that
the Company expects or anticipates will or may occur in the future
including whether the proposed acquisition will be completed.
Generally, but not always, forward-looking information and
statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or the
negative connotation thereof or variations of such words and
phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connotation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including that general business and economic
conditions will not change in a material adverse manner, that
financing will be available if and when needed and on reasonable
terms, and that third party contractors, equipment and supplies and
governmental and other approvals required to conduct the Company's
planned exploration activities will be available on reasonable
terms and in a timely manner. Although the assumptions made by the
Company in providing forward-looking information or making
forward-looking statements are considered reasonable by management
at the time, there can be no assurance that such assumptions will
prove to be accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, reliance on key
management and other personnel, potential downturns in economic
conditions, actual results of exploration activities being
different than anticipated, changes in exploration programs based
upon results, and risks generally associated with the mineral
exploration industry, environmental risks, changes in laws and
regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company undertakes
no obligation to update or reissue forward-looking information as a
result of new information or events except as required by
applicable securities laws.
Reader should also be cautioned that where reference is made to
mineralization of adjacent or near-by properties it is not
necessarily indicative of mineralization hosted on the Company's
Property.
SOURCE International Consolidated Uranium Inc.
