Uranium exploration company Nuclear Fuels has closed a private placement of 25-million units, raising C$13.9-million to advance its uranium projects in the US.
As part of the offering, Nasdaq-listed enCore Energy acquired 5.2-million units to maintain its ownership stake in Nuclear Fuels.
The proceeds from the placement will be used to support Nuclear Fuels' ongoing uranium projects, particularly in the US, as well as for working capital and general corporate purposes.
Nuclear Fuels is focused on advancing district-scale, in-situ-recovery-amenable uranium projects toward production. The company is well-positioned in the sector, which is poised for significant growth, supported by strong government backing.
Nuclear Fuels has consolidated control over the Kaycee Wyoming district, a key area for uranium exploration, for the first time since the early 1980s. The company is currently conducting its second drill programme at the Kaycee project.
Edited by: Creamer Media Reporter
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