Premier American Uranium upsizes bought deal to $13 million
Premier American Uranium Inc. [PUR-TSXV, PAUIF-OTCQB] has upsized a previously announced bought deal private placement financing that is now expected to raise $13 million, up from the earlier $10 million target. The company says it intends to use the net proceeds for the exploration and advancement of the company’s uranium projects in New Mexico and Wyoming.
Under the amended financing, the company said a syndicate of underwriters has agreed to purchase for resale 14.4 million units priced at 90 cents per unit on a bought deal basis in a private placement. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share for $1.26 at any time on or before the date which is 36 months after closing.
The company is granting the underwriters an option to purchase for resale up to an additional 2.22 million units at the offering price for additional proceeds of $2.0 million. That option can be exercised up to 48 hours prior to the closing date.
Premier American shares rose 3.26% or $0.03 to 95 cents, Thursday. The shares trade in a 52-week range of $1.77 and 59 cents.
The company has filed a technical report containing a preliminary economic assessment and updated mineral resource estimate for the Cebolleta Uranium Project in New Mexico, outlining the potential for a low-CAPEX, long-life uranium operation with strong baseline economics. The company indicated that the PEA demonstrates an after-tax net present value of US$83.9 million at an 8.0% discount rate, with average annual production of approximately 1.4 million pounds U308 over a 13-year mine life and total production over 18.1 million pounds.
In a press release on January 20, 2026, Premier American announced drill results from the 2025 drilling program at its wholly-owned Kaycee ISR Uranium Project. The project is located in the prolific Powder River Basin of northeastern Wyoming.
The company said the 2025 drilling campaign successfully advanced multiple targets, expanding areas of known uranium mineralization in the Outpost, Rustler, and Stampede exploration areas, each associated with major redox-controlled roll-front systems within the Power River Basin. The project is situated in the vicinity of several past and presently producing ISR uranium operations, including Energy Fuels Inc.’s Nichols Ranch and Uranium Energy Corp.’s Christensen Ranch ISR operations.
Drilling completed in 2025 includes 132 drill holes for a total of 100,107 ft. “We are encouraged with the results of the 2025 drilling programs at Kaycee, which validated our thesis that the project offers resource potential in a top U.S. uranium producing jurisdiction,’’ said Premier American CEO Colin Healey. Goals for 2026 include aggressive follow-up on new identified and known mineralized areas to determine resource potential and formally confirming historical resources at the project, while testing high-priority targets born from recent drill work.
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