Business
Myriad Uranium Closes Over-Subscribed Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - February 6, 2023) - MYRIAD URANIUM CORP. (CSE: M) ("Myriad" or the "Company"), a new uranium explorer with over 1
About this update from Myriad Uranium Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - February 6, 2023) - MYRIAD URANIUM CORP. (CSE: M) (\"Myriad\" or the \"Company\"), a new uranium explorer with over 1,800 km2 on-structure and near several of Africa's (and the world's) most significant uranium deposits, is pleased to advise that it has closed its previously announced private placement financing (see Myriad's news release dated January 10, 2023). Under the over-subscribed financing, Myriad raised gross proceeds of $550,000 through the issuance of 2,200,000 units (each, a \"Unit\") at a price of $0.25 per Unit. Each Unit is comprised of one common share of the Company and one common share purchase warrant exercisable for 24 months at an exercise price of $0.30 per share. Securities issued under the financing are subject to a four month hold period expiring June 7, 2023, in accordance with applicable Canadian securities laws. The Company did not pay any finder's fees or issue any finder's warrants in connection with the financing. The Company will use the proceeds of the financing for general working capital. Certain directors and officers of the Company participated in the private placement, and such participation is considered to be a \"related party transaction\" as defined under Multilateral Instrument 61-101 (\"MI 61-101\"). This is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of such participation does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. About Myriad Myriad Uranium Corp. is a Vancouver-based mineral exploration company with an option to earn a 100% interest in over 1,800 km2 of uranium exploration licenses in the Tim Mersoìˆ Basin, Niger. Myriad also has a 50% interest in the Millen Mountain Property located in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com), contact the Company by telephone at +1.604.418.2877, or refer to the Company website, at www.myriaduranium.com. ON BEHALF OF THE BOARD OF DIRECTORS Thomas LambPresident and [email protected] Bill MitoulasInvestor [email protected]+1.416.479.9547 Forward-Looking Statements This news release contains \"forward-looking information...