Critical Mineral Exploration
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Future Fuels Announces $2 Million LIFE Flow-Through Offering
Accessnewswire· 2026-02-04 01:15
Core Viewpoint - Future Fuels Inc. is initiating a non-brokered private placement to raise up to C$2,000,000 through the sale of "flow-through" units, aimed at funding Canadian exploration expenses related to critical minerals projects [1][4]. Group 1: Offering Details - The private placement will consist of up to 2,469,135 "flow-through" units priced at C$0.81 each, with each unit comprising one "flow-through" Common Share and one purchase warrant [1][2]. - Each warrant will allow the purchase of one Common Share at a price of C$1.00 for a period of 24 months from the closing date, expected around February 27, 2026 [2][3]. - The offering is made under the Listed Issuer Financing Exemption, allowing it to be offered to purchasers across all Canadian provinces without a hold period [3]. Group 2: Use of Proceeds - The gross proceeds from the offering will be allocated to incur "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" under the Tax Act [4]. Group 3: Company Overview - Future Fuels' principal asset is the Hornby Uranium Project, covering 3,407 km² in north-western Nunavut, which includes over 40 underexplored uranium showings [8]. - The company also holds the Corvette Property in Quebec's James Bay region, comprising 65 mineral claims over 3,370 hectares [8].
VanadiumCorp Files for Conditional Approval of $1.4 Million Private Placement Financing, Closes First Tranche
Thenewswire· 2025-11-13 13:50
Core Viewpoint - VanadiumCorp Resource Inc. is seeking conditional approval for a private placement financing to raise up to $1.4 million through the issuance of flow-through and non-flow-through units, aimed at funding exploration activities and qualifying for tax credits related to critical minerals [1][2][4]. Financing Details - The financing consists of up to 2,333,333 flow-through units at $0.30 each, and up to 2,800,000 non-flow-through units at $0.25 each, with total gross proceeds expected to reach $1.4 million [2]. - The first tranche of the financing aims to raise $700,000 by issuing 2,333,333 flow-through units [3]. Use of Proceeds - Proceeds from the sale of flow-through units will be used to incur eligible Canadian exploration expenses, specifically targeting critical minerals, including vanadium, by December 31, 2026 [4]. - The company has obtained the necessary tax credit certification to ensure that the expenditures qualify as flow-through critical mineral mining expenditures [4]. Company Overview - VanadiumCorp Resource Inc. is focused on developing vanadium-rich assets in Quebec, with its flagship project being the Lac Doré Vanadium Project, which is noted for high-purity vanadium suitable for energy storage applications [6]. - The company has established an electrolyte pilot plant in Val-des-Sources, Québec, to test vanadium materials and support future commercial production of vanadium electrolyte for vanadium redox flow batteries (VRFBs) [6]. - With vanadium and titanium classified as critical minerals in Canada and the U.S., the company aligns with national strategies to enhance domestic supply chains [6].