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Mega Uranium Ltd. Proposes Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, Dec. 03, 2018 (GLOBE NEWSWIRE) -- Mega Uranium Ltd. (
About this update from Mega Uranium Ltd.
[{"type":"text","content":" NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES TORONTO, Dec. 03, 2018 (GLOBE NEWSWIRE) -- Mega Uranium Ltd. (MGA: TSX) (“Mega”) announces today that it is proposing to complete a non-brokered private placement to sell up to 15,909,091 units (the \"Units\") at a price of $0.11 per Unit, for aggregate gross proceeds of up to $1,750,000 (the “Financing”). Each Unit will consist of one common share and one common share purchase warrant of Mega (a “Warrant\"). Each Warrant will entitle the holder to purchase one common share of Mega at a price of $0.15, for a period of 24 months following the closing date. The securities issued under the Financing will be subject to a four month hold period in accordance with applicable Canadian securities laws. Mega may pay finders’ fees with respect to certain subscribers under the Financing, which will not exceed a cash payment equal to 6% of the gross proceeds raised from the subscriber and common share purchase warrants equal to 6% of the number of Units purchased by the subscriber. The common share purchase warrants will have the same terms as the Warrants. Completion of the Financing is subject to certain conditions, including the approval of the Toronto Stock Exchange. Subject to the satisfaction of the conditions, the Financing is anticipated to close in December 2018. The proceeds from the sale of the Units will be used for general working capital. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. ABOUT MEGA URANIUM LTD.Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia and Canada and a portfolio of equity investments in uranium-focused public and private companies. Further information on Mega can be found on the company’s ...