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U3O8 Corp. Proposes One Million Dollar Non-Brokered Financing
U3O8 Corp. Proposes One Million Dollar Non-Brokered Financing Canada NewsWire TO...
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[{"type":"text","content":"\n\n\n\nU3O8 Corp. Proposes One Million Dollar Non-Brokered Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Oct. 4, 2017\n\n\n\nTORONTO, Oct. 4, 2017 /CNW/ - U3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) (\"U3O8 Corp.\" or the \"Company\") announces that it intends to proceed with a non-brokered private placement to raise up to one million Canadian Dollars (\"C$) in gross proceeds through the sale of approximately 3 million units with each unit (\"Unit\") consisting of a share and a warrant.  \n\nTerms of the Private Placement\n\nThe price of a Unit has been set at C$0.34.  Each Unit shall consist of:\n\n\nOne share;\nA warrant that provides the subscriber with the right to purchase an additional share at a price of C$0.45 for a period of 2½ years (30 months) from the date of the financing;\nNumber of Units being offered: 3,000,000;\nPotential gross proceeds: C$1,020,000.\n\nThe shares and warrants issued will have a hold period, during which they cannot be traded, for four months from the date of the closing of this financing.  \n\nThis financing is available to Accredited Investors as well as to existing shareholders through the Existing Shareholder Prospectus Exemption (\"ESPE\") that allows any U3O8 Corp. shareholder to purchase up to C$15,000 of the Company's stock per year, without needing to be an Accredited Investor. Since an Accredited Investor designation requires a net worth of C$1 million or an annual income of C$200,000 or other similar financial and institutional criteria, the ESPE opens the participation in the Company's financing, and the access to warrants, to a much broader spectrum of investors.  Additional information on the document that needs to be completed for subscription to the ESPE financing may be found on the Company's website, http://www.u3o8corp.com/investors/existing-shareholder-prospectus-exemption/.\n\nUse of Proceeds\n\nFunds raised from the financing will be used for pilot plant test work on the Laguna Salada uranium-vanadium deposit in Argentina, as well as for general admini...