Replies to post #130 on Athabasca Uranium Inc (ATURF)

[elmacanuck]

Athabasca Uranium arranges $2.2-million financing

2010-11-25 15:15 ET - News Release


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Mr. Gil Schneider reports

ATHABASCA URANIUM ANNOUNCES $2.2 MILLION PRIVATE PLACEMENT

Athabasca Uranium Inc. has arranged a private placement in the capital of the company for gross proceeds of up to $2.2-million.

The Offering is comprised of up to 6,956,522 flow through units (the "FT Units") at a price of $0.23 per FT Unit and up to 3,000,000 units (the "NFT Units") at a price of $0.20 per NFT Unit for aggregate gross proceeds of up to $2,200,000. Each FT Unit will consist of one common share in the capital of the Company which will be designated as a flow-through share pursuant to the Income Tax Act (Canada) and one share purchase warrant (a "FT Warrant"). Each FT Warrant will entitle the holder to purchase one common share in the capital of the Company (a "Share") at a price of $0.35 per Share for a period of one year from the closing of the Offering. Each NFT Unit will consist of one Share and one share purchase warrant (a "NFT Warrant"). Each NFT Warrant will entitle the holder to purchase one Share at a price of $0.30 per Share for a period of one year from the closing of the Offering.

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