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2864 chemin Sullivan
Val-d’Or, Québec J9P 0B9
819.824.2808 (main)
819.824.3379 (fax)
Uranium Valley Mines Announces Gross Proceeds of $718,750
Held in Trust Pending Closing of Private Placement Financing
Val-d’Or, Québec – January 31, 2017 – Uranium Valley Mines Ltd. (TSX-V:VZZ.H) (the “Company”)
announces that gross proceeds of $718,749.75 are being he ld in trust pending closing of its previously
announced non-brokered private placement offering (the “Financing”). Closing and issuance of securities
by the Company under the Financing is subject to fi nal acceptance by the TSX Venture Exchange of the
Company’s graduation from NEX and reactivation as a Tier 2 Mining Issuer on the TSX Venture
Exchange.
The Financing has been oversubscribed by 191,665 Un its such that, on closing, the Company will issue
4,791,665 Units rather than up to 4,600,000 Units as previously announced on December 14, 2016. The
Units have been purchased at a per Unit price of $0 .15, each Unit consisting of one common share in the
capital of the Company and one-half of one non-transferable common share purchase warrant, each whole
warrant entitling the holder to purchase one common sh are in the capital of the Company at a per share
price of $0.20 for 12 months following issuance of the securities.
In connection with the Financing, the Company w ill pay an aggregate $16,999.99 in cash finder’s fees
and will issue an aggregate 107,333 common shares at a deemed per share price of $0.15 to various
parties in satisfaction of an aggregate $16,099.95 in finder’s fees, representing 8% of the purchase
proceeds received from subscribers introduced to the Company by the finders. The Company will also
issue to the finders non-transferable warrants entitling the purchase of an aggregate 220,666 common
shares at a per share price of $0.20 for 12 months fo llowing the date of issuance, representing 8% of the
number of Units placed with the assistance of the finders.
In accordance with applicable secur ities legislation and the policies of the TSX Venture Exchange, all
securities to be issued under the Financing, including securities to issued in satisfaction of finder’s fees,
will be subject to a hold period of four months and one day from the date of issuance.
Net proceeds from the Financing will be used by the Company to meet its obligations under the Option
Agreement with Golden Valley Mines Ltd., as prev iously announced on December 14, 2016, and for
general corporate purposes.
For additional information, please contact:
Glenn J. Mullan, Chief Executive Officer
Telephone: (819) 824-2808 - Head Office
(514) 835-8384 - cell phone
Email: [email protected]
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Forward Looking Statements:
This news release contains certain statements that may be deemed “forward-looking statements. Forward
looking statements are statements that are not histor ical facts and are generally, but not always, identified
by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”
and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.
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
realities may differ materially from those in forwar d looking statements. Forward looking statements are
based on the beliefs, estimates and opinions of the Company’s management on the date the statements are
made. Except as required by law, the Company undert akes no obligation to update these forward-looking
statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation Servi ces Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES, AND DOES NOT CONSTITUTE AN O FFER TO SELL OR A SOLICITATION OF AN
OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED
STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR
TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.