Aero Energy Limited Announces Closing of Final Tranche of Non-Brokered Private Placement
Aero Energy Limited (TSXV: AERO, OTC: AAUGF) (OTC Pink: AAUGF) (FSE: J5B) has announced the closing of the second and final tranche of its non-brokered private placement, issuing 5,367,173 common shares at $0.23 per share for gross proceeds of $1,234,450, and 7,142,857 charity flow-through common shares at $0.35 per share for gross proceeds of $2,500,000. The company plans to use the proceeds to fund exploration and advancement of its uranium properties in Saskatchewan and Nevada, as well as for general working capital purposes.
Use of Proceeds and Tax Treatment
The net proceeds from the sale of common shares will be used to fund exploration and advancement of the company’s uranium properties, while the gross proceeds from the sale of charity flow-through common shares will be used to incur eligible “Canadian exploration expenses” and “flow-through critical mineral mining expenditures” as defined in the Income Tax Act (Canada) and The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan). These expenditures will be renounced in favor of the subscribers of the charity flow-through common shares effective December 31, 2025.
Finder’s Fees and Warrants
In connection with the final tranche, finder’s fees of $60,436 were paid in cash and 262,765 finder’s warrants were issued to Eventus Capital Corp., an eligible arm’s length finder. Each finder’s warrant will be exercisable to acquire one common share of the company at a price of $0.23 until December 30, 2027.
About Aero Energy Limited
Aero Energy Limited, following its successful merger with Kraken Energy Corp., has established a robust portfolio of uranium assets in North America. The company controls a district-scale land package in Saskatchewan’s Athabasca Basin, including its Strike and Murmac projects, which collectively host dozens of shallow drill-ready targets on the north rim of the Athabasca Basin. For more information about Aero Energy Limited, please visit aeroenergy.ca.
Forward-Looking Information
This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements. These statements address future events and conditions and are reliant on assumptions made by the company’s management, and so involve inherent risks and uncertainties.
Cautionary Statement
Readers are referred to the additional information regarding the company’s business contained in the company’s filings with securities regulatory authorities in Canada on SEDAR+ (www.sedarplus.ca). Although the company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279257
For more information on Aero Energy Limited’s non-brokered private placement, please read the full press release Here
Smart Tip for Readers
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