EUROPEAN URANIUM CLOSES GRIT FINANCING
Vancouver, March 7, 2014 – European Uranium Resources, Ltd. (EUU: TSX-V; EUUNF:
OTCQX; TGPN: Frankfurt) (the “Corporation”) reports that further to the Corporation’s
previous news releases it has closed its securities exchange with Global Resources
Investment Trust Plc (“GRIT”).
The Corporation issued 12,500,000 common shares at $0.10 per share to GRIT, in
exchange for 751,744 ordinary shares of GRIT (the “GRIT Shares”), at the deemed price of
£1.00 per GRIT Share. The securities issued to GRIT are subject to resale restrictions
expiring July 8, 2014.
The Corporation will now seek to sell the GRIT Shares through the facilities of the London
Stock Exchange. During the first six months, all sales of GRIT Shares will be arranged by
GRIT. While the Corporation will seek to maximize the proceeds it receives from the sale of
its GRIT Shares, there is no assurance as to the timing of disposition or the amount that will
be realized. Funds realized from the sale of the GRIT Shares will be used by the
Corporation for to advance the Corporation’s Kuriskova uranium project in Slovakia and for
working capital and general corporate purposes.
The GRIT Shares were distributed pursuant to a prospectus published by GRIT in the UK on
February 28, 2014. GRIT’s application to list its ordinary shares on the premium listing
segment of the Official List and to trade on the London Stock Exchange’s main market
became effective today. GRIT’s distribution of the GRIT Shares to the Corporation and
other Canadian based issuers was also made pursuant to a discretionary exemption order
granted by the Ontario and British Columbia Securities Commissions by order dated
November 13, 2013.
GRIT has been established to exploit investment opportunities in the junior mining and
natural resources sectors worldwide, with an investment objective to generate medium and
long-term capital growth. GRIT has conducted share exchange transactions with 41 junior
resource companies (32 headquartered in Canada), acquiring an initial portfolio of their
securities in exchange for 39,520,012 ordinary shares having a deemed value of
£39,520,012 (approximately C$73,250,000).
A commission of 6% will be payable in respect to the GRIT financing.
