Future Fuels Inc. Advances Mountain Lake Acquisition and Closes Initial Private Placement

Future Fuels Inc. has announced progress on the acquisition of the Mountain Lake Project, along with the closure of the first tranche of its concurrent private placement financing. The company has issued 9,246,980 units at $0.25 per unit, comprising one common share and one-half share purchase warrant. Each warrant allows the purchase of an additional share at $0.40, valid for 24 months. This move funds current projects but excludes Mountain Lake until the acquisition is finalized.

The Mountain Lake acquisition gained conditional approval from the TSX Venture Exchange. The first tranche's closure meets financing conditions, independently of the second tranche's completion. No guarantees exist for the acquisition's completion as it awaits further approval.