Cosa Announces C$5 Million Private Placement, Including Participation by Denison Mines

Core Viewpoint - Cosa Resources Corp. has announced a private placement offering to raise up to C$5 million through the sale of units and charity flow-through units, with participation from its largest shareholder, Denison Mines Corp. [1][2] Group 1: Offering Details - The offering includes up to 8,000,000 units at C$0.25 per unit and up to 7,058,824 charity flow-through units at C$0.425 per unit, aiming for aggregate gross proceeds of up to C$5 million [1] - Each unit consists of one common share and one-half of a common share purchase warrant, while each charity flow-through unit consists of one common share qualifying as a flow-through share and one-half of a warrant [3] - The company has granted agents an option to purchase an additional C$1 million worth of offered securities [4] Group 2: Use of Proceeds - Net proceeds from the sale of units will be used for exploration and working capital, while gross proceeds from charity flow-through units will fund eligible Canadian exploration expenses related to uranium projects in the Athabasca Basin [6] Group 3: Shareholder Participation - Denison Mines Corp. plans to participate in the offering to maintain its ownership in Cosa at approximately 19.95% following the offering [2] Group 4: Regulatory and Closing Information - The offering is expected to close on or about February 26, 2025, subject to regulatory approvals [10] - Offered securities will be sold under specific exemptions from registration requirements, with certain conditions applied to different categories of purchasers [7][8][9] Group 5: Company Background - Cosa Resources is a Canadian uranium exploration company with a portfolio of approximately 237,000 hectares in the Athabasca Basin, focusing on underexplored areas [15] - The management team has a successful track record in uranium exploration, including previous discoveries in the region [16] - The company has entered a strategic collaboration with Denison, enhancing its access to prospective uranium exploration projects [17] Group 6: Exploration Focus - Cosa's primary focus includes drilling at the Ursa Project, which has significant potential due to its location in a region with known mineralization and limited historical drilling [18]