Uranium Royalty Corp (TSXV: URC) (NASDAQ: UROY) is looking to raise funds. The company last night announced that it will be undertaking an at-the- market equity program, with the goal of raising gross proceeds of US$40 million.
Distribution of company shares is to be conducted by a syndicate of agents lead by BMO Nesbitt Burns, with the company selling shares directly on both the TSX Venture Exchange and the Nasdaq as a means of raising capital. Shares are to be made available from time to time, and sold at the prevailing market price.
The program will continue until either US$40.0 million is raised under the program, or September 1, 2022, whichever occurs first.
Proceeds from the financing are to be used to acquire royalties, streams, uranium, and for working capital.
The announcement follows the company raising C$25.0 million under a bought deal financing at the end of May, which was part of a larger $37.0 million “financing package.”
Uranium Royalty Corp last traded at $3.25 on the TSX Venture.
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