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Athabasca Nuclear Corrects Financing News Release
Athabasca Nuclear Corrects Financing News Release Cranbrook, British Columbia CANADA, June 0...
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[{"type":"text","content":"Athabasca Nuclear Corrects Financing News ReleaseAthabasca Nuclear Corrects Financing News Release\nCranbrook, British Columbia CANADA, June 07, 2013 /FSC/ - Athabasca Nuclear Corporation  (ASC - TSX Venture), (\"Athabasca Nuclear\"), announces a correction to its news release issued Thursday, June 6, 2013. The news release incorrectly stated that the second tranche closing of $138,000 comprises the final closing of the current equity financing. The financing however remains open to enable management the opportunity to raise the maximum equity financing $600,000 (5,000,000 Units) as originally announced on April 30, 2013. A third and final tranche is expected to close sometime in the coming week.   \nThe Private Placement is 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 certain 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.\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 are not necessarily indicative of the results that may be achieved on Athabasca Nuclear properties.\nAthabasca's Patterson Lake area tenure consists of two separate exploration projects: the Preston Lake and the Patterson East. The 206,728 acre Preston Lake pr...