- Purepoint Uranium Group (PTU) has closed its previously-announced non-brokered private placement
- The company issued 48,642,857 flow-through units at a price of $0.07 per unit for aggregate gross proceeds of $3,405,000
- The company intends to use the net proceeds of the private placement for the exploration and advancement of the company’s projects in the Athabasca Basin, Saskatchewan
- Purepoint Uranium Group Inc. actively operates an exploration pipeline of 12 advanced projects in Canada’s Athabasca Basin
- Purepoint Uranium Group Inc. opened trading at $0.065
Purepoint Uranium Group (PTU) has closed its previously-announced, upsized, non-brokered private placement.
The company issued 48,642,857 flow-through units at a price of $0.07 per unit for gross proceeds of $3,405,000.
Each flow-through unit consists of one flow-through common share and one-half of one common share purchase warrant. Each whole warrant can be exercised to purchase one additional common share at an exercise price of $0.105 per share for a period of 24 months.
The company paid finders’ fees consisting of $167,928.90 in cash and 2,398,984 non-transferable compensation warrants. Each compensation warrant entitles its holder to purchase one common share in the capital of the company at an exercise price of $0.07 per share for a period of 24 months after the closing date.
Net proceeds will be used for the exploration and advancement of the company’s projects in the Athabasca Basin, Saskatchewan.
All securities issued are subject to a statutory four-month hold period, expiring on April 9, 2023.
Purepoint Uranium Group Inc. actively operates an exploration pipeline of 12 advanced projects in Canada’s Athabasca Basin.
Purepoint Uranium Group Inc. opened trading at $0.065.