March 5, 2021
International Consolidated Uranium Inc. (TSXV:CUR, BUY, C$2.50 target, David A. Talbot) announced that it has closed its previously announced private placement for gross proceeds of C$6.03M. The offering consisted of 5.025M units at a price of C$1.20, with each unit consisting of one common share and one-half of one common share warrant. Each warrant is exercisable at a price of C$1.80 for a three-year period until March 4, 2024. Net proceeds from the offering are expected to be used for exploration and development of the company’s assets, potential acquisitions, working capital and general corporate purposes. Consolidated trades at US$0.44/lb U3O8 vs. peers at US$1.12/lb and could close this valuation gap as uranium prices rise based on its strategy of buying unloved uranium assets on the cheap. Read more
