Purepoint Uranium Group Inc. ( TSXV: PTU ) (OTCQB: PTUUF) ("Purepoint" or the "Company") announces a non-brokered private placement (the "Offering") of up to 28,571,429 flow-through units (the "Flow-Through Units") at a price of $0.07 per unit for aggregate gross proceeds up to $2,000,000.03. Each Flow-Through Unit consists of one common share of the Company to be issued on a "flow through" basis pursuant to the Income Tax Act (Canada) (each a "Flow-Through Share") and one-half (12) of one common share purchase warrant. Each whole warrant entitles its holder to purchase one common share of the Company (each a "Warrant Share") at an exercise price of $0.105 per share for a period of 24 months from the date of issuance.
The net proceeds of the Offering will be used for the exploration and advancement of the Company’s projects in the Athabasca Basin, Saskatchewan. The gross proceeds of the Flow-Through Common […]
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