/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
TORONTO, Dec. 9, 2020 /CNW/ - Baselode Energy Corp.
("Baselode" or the "Company") (TSXV: FIND) is pleased
to announce that due to strong investor demand, it has increased
its previously announced non-brokered private placement offering to
up to C$3.5M (the "Offering"),
consisting of up to 8,750,000 flow-through units (the "FT Units")
of the Company at a price of C$0.40
per FT Unit. Each FT Unit shall be comprised of one flow-through
share in the capital of the Company (each a "FT Share") and one
half of one Common Share purchase warrant (each a "Warrant"). Each
Warrant shall be exercisable into one Common Share at a price of
C$0.60 at any time on or before the
date, which is 24 months after the Offering's closing date.
Red Cloud Securities Inc. will be acting as a finder on behalf
of the Company in connection with the Offering.
The Offering's net proceeds will be used for exploration work at
the Company's Shadow and Hook projects. Both projects are
testing for near-surface, basement-hosted, high-grade uranium
targets in the Athabasca Basin area of
northern Saskatchewan, Canada.
The closing of the Offering, which is expected to occur on or
before December 14, 2020, is subject
to receipt of all necessary regulatory approvals, including the
approval of the listing of the common shares on the TSX Venture
Exchange. The Offering securities issuable will be subject to a
statutory hold period of four months and one day in accordance with
applicable securities laws. The Company confirms that there is no
undisclosed material information.
The securities offered have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any U.S. state securities
laws, and may not be offered or sold in the United States or to, or for the account or
benefit of, United States persons
absent registration or an applicable exemption from the
registration requirements of the U.S. Securities Act and applicable
U.S. state securities laws. This press release does not constitute
an offer to sell or the solicitation of an offer to buy securities
in the United States, nor in any
other jurisdiction.
About Baselode Energy
Baselode is a uranium exploration company focused on discovering
a uranium orebody in the Athabasca
Basin area in Saskatchewan,
Canada.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Certain information in this press release may contain
forward-looking statements. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. Baselode Energy Corp. assumes no obligation to update
the forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Baselode Energy Corp. Additional information
identifying risks and uncertainties is contained in filings by the
Company with Canadian securities regulators, which filings are
available under Baselode Energy Corp. profile at www.sedar.com.
SOURCE Baselode Energy Corp.
