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Purepoint Uranium Sets Final Size of Private Placement at $6 Million
Toronto, Ontario--(Newsfile Corp. - August 19, 2025) - Purepoint Uranium Group Inc. (TSXV: PTU) (...
About this update from Purepoint Uranium Group Inc.
[{"type":"text","content":"Purepoint Uranium Sets Final Size of Private Placement at $6 MillionToronto, Ontario--(Newsfile Corp. - August 19, 2025) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) (\"Purepoint\" or the \"Company\") announces that it has set the final size of its previously announced non-brokered flow-through private placement (the \"Offering\") at $6,000,000. The book is now fully subscribed, and no further subscriptions will be accepted. The Offering will now be comprised of a combination of the following:3,846,154 Saskatchewan flow-through units of the Company (each, a \"SFT Unit\") at a price of $0.65 per SFT Unit for aggregate gross proceeds of $2,500,000 with each SFT Unit consisting of one common share of the Company to be issued on a \"flow through\" basis pursuant to the Income Tax Act (Canada) (each a \"SFT Share\") and one common share purchase warrant (each, a \"Warrant\"); 4,479,757 national flow-through units of the Company (each, a \"NFT Unit\") at a price of $0.59 per NFT Unit for aggregate gross proceeds of $2,643,057 with each NFT Unit consisting of one common share of the Company to be issued on a \"flow through\" basis pursuant to the Income Tax Act (Canada) (each a \"NFT Share\") and one Warrant; andUp to 1,452,446 traditional flow-through units of the Company (each, a \"TFT Unit\", together with the SFT Unit and the NFT, the \"Units\") at a price of $0.59 per TFT Unit for aggregate gross proceeds up to $856,943 with each TFT Unit consisting of one common share of the Company to be issued on a \"flow through\" basis pursuant to the Income Tax Act (Canada) (each a \"TFT Share\", together with the SFT Shares and the NFT Shares, the \"FT Shares\") and one Warrant.Each Warrant entitles its holder to purchase one common share of the Company (each a \"Warrant Share\") at an exercise price of $0.50 per share for a period of 24 months from the date of issuance. The gross proceeds of the FT Shares sold under the Offering will be used for Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)) which qualify as a \"flow-through mining expenditure\" for purposes of the Income Tax Act (Canada) related to the exploration program of the Company to be conducted on the Company's properties located in the Athabasca Basin, Saskatchewan. The Company will renounce such Canadian Exploration Expenses with a...