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Crosshair announces revised terms for the previously announced C$15 million bought deal financing
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[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES/\n\n\nVANCOUVER, March 6 /CNW/ - Crosshair Exploration & Mining Corp.\n(CXX-TSXV) ("Crosshair" or the "Company") announces that it has agreed with\nCanaccord Capital Corporation, the lead underwriter in connection with the\nCompany's previously announced bought deal financing, to increase the size of\nthe offering of Flow-Through Shares from 3,031,000 to 3,226,000 and reduce the\noffering price of the Flow-Through Shares from C$1.65 to C$1.55 per\nFlow-Through Share. The revised offering of 7,250,000 Units and 3,226,000\nFlow-Through Shares priced at $1.38 per Unit and $1.55 per Flow-Through Share\nwill result in gross proceeds to Crosshair of C$15,005,300. Each Unit consists\nof one common share and one transferable common share purchase warrant (a\n"Warrant"). Each Warrant will entitle the holder thereof to purchase one\ncommon share at a price of C$2.00 expiring 18 months from the closing of the\nOffering.\n\n\nAbout Crosshair\n\n\nCrosshair is a dominant player in the exploration for uranium in the\nCentral Mineral Belt of Labrador-Canada's most promising emerging uranium\ndistrict. The 755 sq km Central Mineral Belt Uranium Project is host to\npotentially three types of uranium mineralization - Iron Oxide Copper Gold\n(IOCG - Olympic Dam), structurally controlled/shear zone and unconformity\ntypes of mineralization.\n\n\nFor more information on the Company and its properties, please visit the\nwebsite at www.crosshairexploration.com.\n\n\nON BEHALF OF THE BOARD\n\n\nMark Morabito, Chief Executive Officer\n\n\nForward-looking Statements\n\n\nCautionary Note Regarding Forward-Looking Information\n\n\nInformation set forth in this news release may involve forward-looking\nstatements. Forward-looking statements are statements that relate to future,\nnot past, events. In this context, forward-looking statements often address a\ncompany's expected future business and financial performance, and often\ncontain words such as "anticipate", "believe", "plan", "estimate", "expect",\nand "intend", statements that an action or event "may", "might", "could",\n"should", or "will" be taken...