Anglo Canadian Closes Second Tranche of Private Placement with MineralFields Group
Jan. 13, 2011 (TheNewswire.ca) --
Anglo-Canadian Uranium Corp. ("Anglo-Canadian" or the "Company")(TSX Venture: URA) is pleased to announce it has completed the second tranche of its previously announced non-brokered private placement (the "Private Placement") with MineralFields Group.
The Company has closed the second and final tranche of the Private Placement and has issued an aggregate of 600,000 units ("Units") at a price of $0.25 per Unit for gross proceeds of $150,000. Each Unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one common share of the Company for a period of 24 months following the closing of the second tranche Private Placement at an exercise price of $0.35 per share for the first year and an exercise price of $0.40 thereafter.
Limited Market Dealer Inc. received a cash finder's fee of $7,500 representing 5% of the gross proceeds from the second tranche of the Private Placement and received 36,000 warrants exercisable into common shares on the same terms as the warrants issued pursuant to the Private Placement. All securities issued pursuant to the second tranche of the Private Placement will be subject to a statutory four month hold period expiring May 13, 2011.
The proceeds of the second tranche of the Private Placement will be used for general working capital and exploration expenses.
About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver, Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products (NYSE:HZK) and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities®.
About Anglo-Canadian Uranium Corp. (TSXV:URA)
Anglo-Canadian Uranium Corp. is a junior mineral exploration company with uranium, copper and gold properties in Quebec, Colorado, British Columbia and Yukon. For more information on the Company and its projects, please visit the website at www.anglocanex.com.
ON BEHALF OF THE BOARD OF DIRECTORS:
"Len J. Harris"
Len J, Harris, President
T: 604-669-6807
Toll Free: 866-488-3838
E: len@anglocanex.com
It's all happened before and it will all happen again. Might as well profit from it.
