Oberon Uranium Corp. to Conduct Private Placement

Oberon Uranium Corp

Vancouver, BC – TheNewswire – October 03, 2023 – Oberon Uranium Corp. (“Oberon” or the “Company”) (CSE:OBRN) is pleased to announce that it will be conducting a non-brokered private placement (the “Offering”) under which it will raise aggregate gross proceeds of up to $2,000,000.  The Offering will consist of the issuance of: up to 20,000,000 units (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of up to $1,000,000; and up to 13,333,333 flow-through units (each, an “FT Unit”) at a price of $0.075 per FT Unit for gross proceeds of up to $1,000,000.  Each Unit consists of one Class A common share in the capital of the Corporation (each, a “Share”) and one Share purchase warrant (each, a “Warrant”, entitling the holder thereof to acquire one additional Share at an exercise price of $0.075 per Share for a period of 24 months from the date of issuance).  Each FT Unit consists of one Share (each, a “FT Share”) that will be issued as a “flow-through share” within the meaning of subsection 66(15) the Income Tax Act (Canada) (the “ITA”) and one Share purchase warrant (each, a “FT Warrant”, entitling the holder thereof to purchase one Share, not issued as a “flow-through share”, at an exercise price of $0.10 per Share for a period of 24 months from the date of issuance).


The Company intends to use the proceeds from the sale of the Units for general working capital. The proceeds received by the Company from the sale of FT Units will be used to incur eligible “Canadian exploration expenses” (“CEE”) that are “flow-through mining expenditures” (as such term is defined in the Income Tax Act (Canada)).


The Company may pay finder’s fees in connection with the Offering. Securities issued under the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.


This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities 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 state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.


About the Company


Oberon Uranium Corp. is a mineral exploration company with a 100% interest in the past producing Lucky Boy Uranium Property located in Arizona, USA.  Oberon also owns a 100% interest in the Fusion Uranium Zone Project and the Element 92 Property both located in the Athabasca Region of Saskatchewan, Canada. For further information, please refer to the Company’s disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at [email protected].


On Behalf of the Board of Directors

Lawrence Hay”

President and CEO

Tel: 778.317.8754

Email: [email protected]


Forward-Looking Information


Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.


The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


The CSE has not reviewed, approved or disapproved the contents of this news release.


Not for distribution to United States news wire services or for dissemination in the United States.


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