- Mega Uranium (MGA) has acquired ownership of 5,140,909 common shares and 5,140,909 common share purchase warrants of U308 Corp
- This followed a private placement of units which U308 Corp. completed on August 2, 2022
- Mega Uranium acquired the purchased securities at an aggregate cost of $565,500, or $0.11 per unit
- Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia
- Mega Uranium Ltd. opened the day’s trading at $0.235 per share
Mega Uranium (MGA) has acquired ownership of 5,140,909 common shares and 5,140,909 common share purchase warrants of U308 Corp.
This followed a private placement of units which U308 Corp. completed on August 2, 2022.
Mega Uranium acquired the purchased securities at an aggregate cost of $565,500, or $0.11 per unit (with each unit made up of one common share and one common share purchase warrant).
Before the conclusion of this transaction, Mega Uranium owned an aggregate of 988,667 common shares of U308 Corp., representing approximately 2.8 per cent of the U308 Corp.’s common shares then outstanding.
When combined with the purchased securities by the close of the transaction, that represented approximately 10.1 per cent of U308 Corp.’s common shares on an undiluted basis, and about 17.1 per cent of U308 Corp.’s common shares then exceptional on a partially-diluted basis, assuming the exercise of the warrants comprising the securities (each warrant being exercisable for one common share for three years).
Mega Uranium’s President and Chief Executive Officer, Richard Patricio, has control or direction over all of the securities via his authority to manage the company’s investment portfolio. As at the transaction’s closing, he did not separately own, or have control or direction over, any other securities of the Issuer.
Mega Uranium acquired the purchased securities for the purposes of investment.
At any time and from time to time, Mega or Mr. Patricio may acquire additional securities of the Issuer or dispose of some or all of the Securities, based upon market conditions, investment objectives or other factors.
Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia and a portfolio of equity investments in uranium-focused companies.
Mega Uranium Ltd. opened the day’s trading at $0.235 per share.
