F3 Uranium Completes Spinout of Exploration Assets Into F4 Uranium

There’s a new uranium name on the block. F3 Uranium (TSXV: FUU) has finally completed the spinout of F4 Uranium and its related assets, establishing a new uranium project generation and exploration company.

Under the terms of the arrangement, shareholders of F3 Uranium were to receive one tenth of an F4 share for every share held of F3, with the spinout being completed on August 15.

Moving forward, F4 Uranium has a portfolio of 17 properties that it has grabbed from F3’s portfolio, with its land claims totaling 168,422 hectares within the Athabasca Basin. Chief among those claims is the Murphy Lake property, which was optioned out in February of this year to Canadian GoldCamps for $1.4 million in cash and work expenditures of $18 million in exchange for a 70% stake. F4 is expected to remain the operator of the project during the three year earn-in period.

READ: F3 Uranium’s New Murphy Lake Option To See $18 Million In Work Expenditures In First 3 Years

With the exploration stage assets now spun out, F3 Uranium will focus on its wholly owned Patterson Lake North project in the Athabasca Basin, where it is presently focused on exploring the JR Zone. That zone was discovered in 2022 with hole PLN22-035, which intersected 6.97% U3O8 over 15.0 metres.

F3 Uranium last traded at $0.295 on the TSX Venture.


The author has no securities or affiliations related to any organization mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Gold Could Easily Double Again in This Run!? | Dan Wilton – First Mining Gold

$3300 GOLD: Every $100 Rise in Gold Means Pure Profit |  Ross Beaty – Equinox Gold

First Majestic Silver: The Santo Nino Discovery

Recommended

Emerita Resources Intends To Appeal Exploitation License Granted To Minera Los Frailes

First Majestic Silver: The Santo Nino Discovery

Related News

F3 Uranium Reports Early Discovery At Broach Property

F3 Uranium (TSXV: FUU) is reporting that a new discovery made has been made at...

Tuesday, April 15, 2025, 08:26:56 AM

F3 Uranium Intersects 50.1% U3O8 Over 4.5 Metres

F3 Uranium (TSXV: FUU) has hit high grade uranium under its latest drill program. The...

Tuesday, December 3, 2024, 07:31:23 AM

F3 Uranium Begins Drill Testing Hearty Bay Project Under 2,000 Metre Program

F3 Uranium (TSXV: FUU) has begun to drill test its Heart Bay project in the...

Friday, March 8, 2024, 08:31:01 AM

F3 Uranium Secures $15 Million Convertible Debt Strategic Investment From Denison Mines

F3 Uranium Corp (TSXV: FUU) has secured a strategic investment from that of Denison Mines...

Friday, October 6, 2023, 08:52:04 AM

F3 Uranium Sees Board Of Directors Approve Spinout Transaction

F3 Uranium (TSXV: FUU) is proceeding with a previously proposed spinout of certain assets. The...

Monday, June 10, 2024, 08:36:46 AM