Business
Purepoint Uranium Group Inc. announces private placement
Purepoint Uranium Group Inc. announces private placement Canada NewsWire TO...
About this update from Purepoint Uranium Group Inc.
[{"type":"text","content":"Purepoint-PrivatePlac\n \n \n \n Purepoint Uranium Group Inc. announces private placement\n \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 Canada NewsWire\n \n \n TORONTO, Oct. 13, 2020\n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR THROUGH U.S. NEWSWIRE SERVICES/\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 13, 2020\n \n /CNW/ - Purepoint Uranium Group Inc. (TSXV: PTU) (\"\n \n Purepoint\n \n \" or the \"\n \n Company\n \n \") announced a non-brokered private placement (the \"Private Placement\") of up to 10,000,000 Units at a price of\n \n $0.05\n \n per Unit for aggregate gross proceeds of up to\n \n $500,000\n \n . Each Unit consists of one common share in the capital of the Company and one common share purchase warrant. Each warrant entitles its holder to purchase one common share in the capital of the Company at an exercise price of\n \n $0.08\n \n per share for a period of 24 months from the date of issuance.\n \n \n \n \n \n \n \n \n \n Closing expected to be on or about\n \n October 23, 2020\n \n . The net proceeds of the Private Placement will be used for working capital purposes.\n \n \n \n About Purepoint\n \n \n \n Purepoint Uranium Group Inc. is focused on the precision exploration of its six projects in the Canadian Athabasca Basin, the world's richest uranium region. Established in the\n \n Athabasca\n \n Basin well before the initial resurgence in uranium earlier last decade, Purepoint's flagship project is the Hook Lake Project, a joint venture with two of the largest uranium suppliers in the world, Cameco Corporation and Orano Canada Inc. The Hook Lake JV Project is on trend with recent high-grade uranium discoveries including Fission Uranium's Triple R Deposit, NexGen's Arrow Deposit and the Hook Lake JV's Spitfire discovery.\n \n \n \n \n Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.\n \n \n \n \n \n Disclosure regarding forward-looking statements\n \n \n \n This pre...