UEX : Closes $2.5 Million Private Placement of Flow-Through Common Shares

UEX : Closes $2.5 Million Private Placement of Flow-Through Common Shares

UEX Closes $2.5 Million Private Placement of Flow-Through Common Shares

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Saskatoon, Saskatchewan, December 17, 2021 – UEX Corporation (TSX:UEX) (" UEX " or the " Company ") is pleased to announce that it closed its previously announced $2.5 million non-brokered private placement (the " Offering "). The Company issued 6,414,103 common shares of the Company (" Flow‑Through Common Shares ") that qualify as "flow-through shares" for the purposes of the Income Tax Ac t (Canada)(the " Tax Act ") at a price of $0.39 per Flow-Through Common Share for aggregate gross proceeds to the Company of $2,501,500.17

The gross proceeds from the sale of the Flow-Through Common Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Tax Act which qualify as "flow through […]

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