European Uranium Arranges Financing

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[{"type":"text","content":"European Uranium Arranges FinancingEuropean Uranium Arranges Financing\n\nVancouver, British Columbia CANADA, October 11, 2013 /FSC/ - European Uranium Resources Ltd. (EUU - TSX Venture, EUUNF - OTCQX, TGPN - FWB),has arranged a $1.0 million financing through Global Resources Investment Limited (GRIT).  GRIT has been established to exploit investment opportunities in the junior mining and natural resources sectors worldwide, with an investment objective to generate medium and long-term capital growth.  GRIT has advised that they will shortly be re-registering as a public company and will be constituted as an investment trust with the name Global Resources Investment Trust Plc and is seeking admission of its ordinary shares on the main market for listed securities on the London Stock Exchange.\n\nGRIT is acquiring 8 million shares of EUU at a price of $0.125 per share and will own approximately 13% of EUU after this transaction.  These EUU shares will be subject to a 4-month hold period.  The consideration to EUU will be 604,485 shares of GRIT, at a deemed price of ?1.00 per share, for a value of approximately $1.0 million.  This transaction is conditional on the trust closing its initial financing and becoming listed on the London Stock Exchange.  GRIT expects to be listed within the coming weeks.\n\nEUU will arrange to sell GRIT shares from time to time in accordance with applicable securities laws in order to generate cash, which will be used to advance the Company's Kuriskova uranium project in Slovakia and for working capital and general corporate purposes.\n\nA 6% commission is payable in GRIT shares in respect of this transaction.\n\nUnder the terms of its 2011 Private Placement into EUU, AREVA has the right during the next 30 days to elect to purchase additional shares of EUU on the same terms as this financing in order to maintain its current percentage ownership (7.3%) in the Company.  This would represent 585,846 shares at a value of $73,231.\n\nClosing of the transaction is subject to GRIT successfully listing on the London Stock Exchange and TSX Venture Exchange approval.\n\nAbout European Uranium Resources Ltd.\n\nEuropean Uranium Resources Ltd. is a dedicated European uranium exploration and development company that has built a portfolio of outst...

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