Global Uranium Announces Private Placement for up to C$3,000,000

About this update from Global Uranium Corp.

[{"type":"text","content":" VANCOUVER, British Columbia, July 24, 2024 (GLOBE NEWSWIRE) -- Global Uranium Corp. (CSE: GURN | OTC PINK: GURFF | FRA: Q3J) (the \"Company\") is pleased to announce a non-brokered private placement for gross proceeds of up to C$3,000,000 (the “Offering”). The Offering is expected to consist of the offering of: (i) units of the Company at a price of $0.35 per unit (the “$0.35 Unit”) for aggregate gross proceeds of up to C$2,000,000, with each $0.35 Unit comprised of one non-flow-through common share of the Company (each, a “Share”) and one Share purchase warrant of the Company entitling the holder to acquire one Share (each, a “Warrant Share”) at a price of C$0.45 per Warrant Share for a period of twenty-four months from the date of issuance (the “Non-Flow Through Offering“); and (ii) units of the Company at a price of $0.40 per unit (the “$0.40 Unit”) for aggregate gross proceeds of up to C$1,000,000, with each $0.40 Unit comprised of one flow-through common share (each, a “FT Share”) and one Share purchase warrant of the Company entitling the holder to acquire one Warrant Share at a price of C$0.45 per Warrant Share for a period of twenty-four months from the date of issuance (the “FT Offering”). The FT Shares issued under the FT Offering are intended to qualify as “flow through shares” within the meaning of the Income Tax Act (Canada) (the “Tax Act“). The Company intends to use the net proceeds raised from the Offering to fund exploration activities on the Company’s projects, including at the Northwest Athabasca Project, and general and administrative expenditures, including investor awareness and promotional expenditures, and for general working capital purposes. The gross proceeds from the sale of the FT Shares will be used to incur “Canadian exploration expenses” that are intended to qualify as “flow-through mining expenditures” as those terms are defined in the Tax Act, which the Company intends to renounce to the initial purchasers of the FT Shares. All securities issued in the Offering will be subject to a statutory four month and one day hold period. Closing of the Offering is subject to the Company’s receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange. The Offering is expected to close on or about August 30, 2024. This news release does not constitute an offer to sell...

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