Mesa Uranium Announces Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2010) - Mesa Uranium Corp. (TSX VENTURE:MSA)(PINK SHEETS:MSAJF) ("Mesa" or the "Company") is pleased to announce a non-brokered private placement (the "Offering") of up to 1,200,000 units (the "Units") at a price of $0.25 per Unit for gross proceeds of up to $300,000. Each Unit will consist of one common share (a "Share") in the capital of Mesa and one non-transferable common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one additional common share (a "Warrant Share") in the capital of Mesa at a price of $0.35 per Warrant Share. The Warrants will expire 24 months from the date of issue unless the closing price of the common shares has been $0.50 or higher for 20 consecutive trading days, in which case the Warrants will expire if not exercised within 30 days. The securities issued under the Offering will be subject to a four month hold period under applicable Canadian securities laws. The Offering is subject to TSX Venture Exchange approval.
Proceeds from the Offering will be used to advance Mesa's exploration projects and for general working capital. Certain insiders of the Company will participate in the offering.
About Mesa Uranium
Mesa is exploring a portfolio of premier uranium, lithium and potash properties in the United States where it controls significant land holdings. All projects are within proven mining districts with excellent access and infrastructure. Mesa currently has 10.9 million shares issued and outstanding. For further information please visit our website at www.mesauranium.com.
ON BEHALF OF THE BOARD
MESA URANIUM CORP.
Foster Wilson, President and CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
For more information, please contact
Mesa Uranium Corp.
Susan Bertling
Corporate Communications
604-688-7508 begin_of_the_skype_highlighting 604-688-7508 end_of_the_skype_highlighting begin_of_the_skype_highlighting 604-688-7508 begin_of_the_skype_highlighting 604-688-7508 end_of_the_skype_highlighting end_of_the_skype_highlighting
www.mesauranium.com
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