Vancouver, British Columbia--(Newsfile Corp. - May 10, 2024) - BASIN URANIUM CORP. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin Uranium" or the "Company") announces that further to its news release dated September 26, 2023, the expiry date (the "Expiry Date") of its 2,503,306 outstanding share purchase warrants issued on October 19, 2022 and November 15, 2022 (the "Warrants") shall be amended to 30 days in accordance with the policies of the Canadian Securities Exchange (the "CSE"). The acceleration of the Expiry Date is mandated by the policies of the CSE in respect of the previous repricing of the Warrant's exercise price.
On May 10, 2024, the price of the Company's common shares on the CSE closed at $0.485, after closing at or above $0.438 for a period of 10 consecutive trading days (the "Trading Period"). Based on the terms of CSE's warrant repricing policies in respect to the Company's Warrants, this triggers the Company's obligation to accelerate the Expiry Date of the 2,503,306 Warrants held by shareholders who participated in the private placement detailed in the Company's news releases dated October 19, 2022 and November 16, 2022. The exercise period of the Warrants has been accelerated to 30 days (the "Accelerated Term"). The Accelerated Term shall commence seven (7) days from the end of the Trading Period. Accordingly, the new Expiry Date of the Warrants is June 16, 2024. Any Warrants that are unexercised will expire and be cancelled after 5:00 p.m. (Vancouver time) on June 16, 2024.
About Basin Uranium Corp.
Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company has three advanced-stage uranium projects located in the United States, namely the Chord and Wolf Canyon project in South Dakota, the South Pass project in Wyoming, and the Wray Mesa project in Utah. All four projects have seen extensive historical exploration and are located in prospective development areas. The Company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia.
For further information, please contact Mr. Mike Blady or view the Company's filings at www.sedar.com.
On Behalf of the Board of Directors
Mike Blady
Chief Executive Officer
info@basinuranium.ca
604-722-9842
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENTS:
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
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