Purepoint Uranium Announces Increase in Offering Size for Non-Brokered Private Placement
Purepoint Uranium Announces Increase in
Offering Size for Non-Brokered Private
Placement
Toronto, Ontario--(Newsfile Corp. - November 25, 2022) - Purepoint Uranium Group Inc. (TSXV: PTU)
(OTCQB: PTUUF) ("
Purepoint
" or the "
Company
") is pleased to announce that due to strong investor
demand, it has increased the offering size of the non-brokered private placement previously announced
on November 23, 2022 from $2,000,000 to $3,750,000 (the "
Offering
"). Up to 53,571,429 flow-through
units ("
Units
") at a price of $0.07 per Unit are issuable pursuant to the Offering. Each Flow-Through Unit
consists of one common share of the Company to be issued on a "flow through" basis pursuant to the
Income Tax Act (Canada) (each a "
Flow-Through Share
") and one-half (1/2) of one common share
purchase warrant.
Each whole warrant entitles its holder to purchase one common share of the Company
(each a "
Warrant Share
") at an exercise price of $0.105 per share for a period of 24 months from the
date of issuance. The completion of the Offering is subject to certain conditions including, but not limited
to, the receipt of all necessary regulatory and corporate approvals, including the approval of approval of
the Offering by the TSX Venture Exchange.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline
of 12 advanced projects in Canada's Athabasca Basin. In addition to its flagship joint venture project at
Hook Lake with partners Cameco and Orano and a second joint venture with Cameco at Smart Lake,
Purepoint also holds ten, 100% owned projects with proven uranium rich targets. With an aggressive
exploration program underway on multiple projects, Purepoint is emerging as the preeminent uranium
explorer in the world's richest uranium district.
For more information, please contact:
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email:
For additional information please visit our new website at
https://purepoint.ca
,
our Twitter feed:
@PurepointU3O8
or our LinkedIn page
@Purepoint-Uranium
.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press
release.
Disclosure regarding forward-looking statements
This press release contains projections and forward-looking information that involve various risks and
uncertainties regarding future events. Such forward-looking information can include without limitation
statements based on current expectations involving a number of risks and uncertainties and are not
guarantees of future performance of the Company. These risks and uncertainties could cause actual
results and the Company's plans and objectives to differ materially from those expressed in the forward-
looking information. Actual results and future events could differ materially from those anticipated in such
information. These and all subsequent written and oral forward-looking information are based on
estimates and opinions of management on the dates they are made and expressly qualified in their
entirety by this notice.
Not for Dissemination in the United States or through U.S. Newswire Services
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