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.
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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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