Athabasca Uranium Announces $750,000 Private Placement
Athabasca Uranium Inc. (“Athabasca” or the “Company”) is pleased to announce that it has arranged a private placement in the capital of the Company (the “Offering”) for aggregate gross proceeds of up to $750,000.
The Offering is comprised of up to 3,000,000 flow through shares (the “FT Shares”) at a price of $0.15 per FT Share for gross proceeds of up to $450,000 and up to 2,500,000 units (the “NFT Units”) at a price of $0.12 per NFT Unit for gross proceeds of $300,000. Each FT Share will be designated as a flow-through share pursuant to the Income Tax Act (Canada). Each NFT Unit will consist of one common share and one half of one common share purchase warrant (a “NFT Warrant”). Each NFT Warrant will entitle the holder to purchase one additional common share at a price of $0.25 per share for a period of one year from the closing of the Offering.
The proceeds from the Offering will be used to fund exploration programs on the Company's prospective uranium properties located in the Athabasca Basin region of northern Saskatchewan and for general working capital and corporate purposes.
The Company may pay finders’ fees on the Offering within the maximum amount permitted by the policies of the TSX Venture Exchange.
Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including that of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
About Athabasca Uranium
Athabasca Uranium Inc. is a uranium exploration and development company exploring an aggregate of over 60,000 hectares strategically located in the uranium-rich Athabasca Basin region of northeast Saskatchewan. The Company’s stated vision is to explore the region using leading-edge technology to become a world-class uranium mining company. Additional information on Athabasca Uranium and its vision is available on the Company’s website at www.athabascauranium.com.
