Purepoint Uranium Announces Brokered Flow-Though Private Placement of up to C$2.5 Million

Purepoint Uranium Announces Brokered Flow-Though Private Placement of up to C$2.5 Million

Pursuant to the Engagement Agreement, the Company has granted Red Cloud an option, exercisable up to 48 hours prior to the closing of the Offering, to sell up to 7,143,000 FT Units at the Offering Price for additional gross proceeds of up to $1,000,020.

In connection with the Offering, the Company has agreed to pay to Red Cloud and any other agents facilitating the Offering (collectively, the " Agents ") a cash commission equal to 6 % of the gross proceeds of the Offering and issue to the Agents non-transferrable compensation warrants to purchase in aggregate that number of common shares of the Company (each, an " Agent’s Warrant Share ") which is equal to 6 % of the number of the FT Units sold under the Offering at a price of C$0.14 per share for a term of 24 months following the closing date of the Offering.

The net proceeds […]

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