Energy Fuels Inc. (TSX:EFR) entered into an agreement with Dundee Securities Ltd. on behalf of a syndicate of underwriters, under which the Underwriters have agreed to purchase, on a bought deal basis, total gross proceeds of $5,000,000.
As quoted in the press release:
… the Underwriters have agreed to purchase, on a “bought deal” basis, 31,250,000 common shares of the Company (the “Shares”) at a price of $0.16 per Share for total gross proceeds of $5,000,000 (the “Offering”). The Underwriters have been granted an option to purchase up to an additional 15% of the Offering, exercisable in whole or in part at any time up to 30 days after the Closing Date (the “Option”).
The Offering is scheduled to close on or about October 16, 2013. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.