Cosa Resources closes C$12 million bought deal private placement

Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) closed a bought deal private placement raising aggregate gross proceeds of C$12,014,950, according to a company statement.

The offering consisted of four share classes: 5,835,000 common shares at C$0.60 each, 3,045,000 Saskatchewan charity flow-through shares at C$0.99 each, 4,020,000 national charity flow-through shares at C$0.87 each, and 2,860,000 flow-through common shares at C$0.70 each.

The offering was led by Velocity Capital Partners as sole bookrunner, with Haywood Securities Inc. as co-lead underwriter, alongside Canaccord Genuity Corp. as part of the underwriting syndicate. The company paid underwriters a cash commission of C$570,747.50 and issued 795,600 compensation warrants exercisable at C$0.60 per share until June 24, 2028.

Denison Mines Corp. (TSX: DML) (NYSE American: DNN), Cosa's largest shareholder, participated in the offering under its pre-emptive and top-up rights. Denison acquired 750,000 common shares and following the closing holds beneficial ownership of 21,740,864 Cosa shares, representing 16.2% of issued and outstanding shares.

Certain directors, officers, and insiders acquired an aggregate of 778,400 common shares and 363,700 flow-through shares for gross proceeds of C$721,630, constituting a related party transaction under Multilateral Instrument 61-101. The company determined the transaction qualified for exemptions from formal valuation and minority shareholder approval requirements.

Cosa intends to use proceeds from common share sales for exploration, development, and working capital, while flow-through share proceeds will fund Canadian exploration expenses related to uranium projects in the Athabasca Basin, Saskatchewan, on or before December 31, 2027. The offering remains subject to final approval by the TSX Venture Exchange.

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