Purepoint Uranium - CEO, Chris Frostad.
CEO, Chris Frostad.
Source: Purepoint Uranium.
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  • Purepoint Uranium (PTU) has announced a C$2.5M brokered private placement
  • The company will use the proceeds to explore and advance its projects in Saskatchewan’s Athabasca Basin
  • The offering is scheduled to close on or about April 4, 2022
  • Purepoint Uranium operates 12 advanced exploration projects in Saskatchewan’s Athabasca Basin
  • Purepoint (PTU) is down by 4.35 per cent trading at $0.11 per share

Purepoint Uranium (PTU) has announced a C$2.5M brokered private placement.

The company will sell up to 17,858,000 flow-through units priced at $0.14 for gross proceeds of up to $2,500,120.

Each flow-through unit is comprised of one flow-through common share and one warrant.

Each warrant is exercisable to acquire one common share priced at $0.20 for up to 24 months following the closing of the offering.

Red Cloud Securities, the lead agent and bookrunner on the offering, may sell up to an additional 7,143,000 flow-through units up to 48 hours prior to the closing of the offering.

The company will use the proceeds to explore and advance its projects in Saskatchewan’s Athabasca Basin.

It will incur Canadian exploration expenses and flow-through mining expenditures as defined in the Income Tax Act of Canada.

It will renounce the proceeds to subscribers no later than December 31, 2022.

The offering is scheduled to close on or about April 4, 2022.

Purepoint Uranium operates 12 advanced exploration projects in Saskatchewan’s Athabasca Basin.

Purepoint (PTU) is down by 4.35 per cent trading at $0.11 per share as of 11:59 am EST.

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