When it comes to funding its operations, Uranium Royalty Corp (TSXV: URC) is evidently looking to keep its options open. The firm last night announced that it would be renewing its at-the-market financing, which was first announced last year.
The financing will see the company sell up to US$40 million of common shares at prevailing market prices on the TSX Venture, the Nasdaq, or any other exchange where its shares may be sold. The financing is to be conducted by a large syndicate of banks, which includes BMO Capital Markets, BMO Nesbitt Burns, Canaccord Genuity, and HC Wainwright amongst others.
Proceeds from the financing are to be used for working capital, as well as the purchase of royalties, streams, additional physical uranium, or for similar purposes.
The financing follows an at-the-market offering announced in August 2021 for the same figure, which expired on September 1, 2022. The program saw the company sell 7.2 million shares through to July 27, 2022, for gross proceeds of C$39.1 million.
The renewed program is valid through to the earlier of July 14, 2023, or when the financing is fully fulfilled.
Uranium Royalty Corp last traded at $3.85 on the TSX Venture.
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