Business
Athabasca Nuclear Corporation Completes Financing
Athabasca Nuclear Corporation Completes Financing Cranbrook, British Columbia CANADA, June 1...
About this update from Dixie Gold Inc.
[{"type":"text","content":"Athabasca Nuclear Corporation Completes FinancingAthabasca Nuclear Corporation Completes Financing\nCranbrook, British Columbia CANADA, June 12, 2013 /FSC/ - Athabasca Nuclear Corporation  (ASC - TSX Venture), (\"Athabasca Nuclear\") (formerly Yellowjacket Resources Ltd.) is pleased to announce that it has closed the third and final tranche of its equity financing announced on April 30, 2013 for gross proceeds of $602,080 (the \"Private Placement\").\nThe Private Placement comprised three tranches, the first being $304,080, a second of $138,000 and a third of $160,000 conjunction with this news release. \nThe Private Placement was comprised of units priced at $0.12 per unit, which consisted of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at a price of $0.20 per share for a period of eighteen months from closing of the offering. The securities are subject to a four-month hold period as required under applicable securities laws. Finder's fees were paid to qualified agents and dealers.  \nThe proceeds from the Offering will be used for mineral exploration and development of the Company's uranium exploration properties located in Saskatchewan and for general working capital purposes. The Company is currently completing the first phase of the 2013 field program at the Preston Lake Project which consists of a 2000 line-kilometer helicopter-borne VTEM plus time domain electromagnetic survey. This will be followed by an airborne radiometric survey. The data from these surveys will be analyzed to locate targets for ground follow-up later in the summer. \nPatterson Lake Area Claims\nAthabasca Nuclear is the largest mineral claim holder in the Patterson Lake area and currently controls 391,142 acres of uranium exploration claims along the southwest margin of the Athabasca Basin. The Patterson Lake area has received escalating exploration attention and claim acquisition activity as a result of the exploration results of Alpha Minerals Inc. and Fission Uranium Corp. Alpha and Fission recently released assay results of 29.26% U3O8 over 10.5 metres at a second zone of three zones of mineralization discovered on the property along an EM conductor. Management cautions that past results or discoveries on proximate land ar...