Purepoint Uranium Group Inc. Announces Private Placement
Purepoint Uranium Group Inc. Announces
Private Placement
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR THROUGH U.S. NEWSWIRE
SERVICES/
TORONTO
,
Dec. 12, 2018
/CNW/ - Purepoint Uranium Group Inc. (TSXV: PTU) (the "Company")
announced a non-brokered private placement (the "Private Placement") of up to 7,777,778 flow-
through units (the "Flow-Through Units") at a price of
$0.09
per unit for aggregate gross proceeds
up to
$700,000
. Each Flow-Through Unit consists of one common share in the capital of the
Company to be issued on a "flow through" basis pursuant to the
Income Tax Act
(
Canada
) and one
common share purchase warrant. Each warrant entitles its holder to purchase one common share in
the capital of the Company at an exercise price of
$0.13
per share for a period of 24 months from
the date of issuance.
The net proceeds of the Private Placement will be used to advance the Company's Hook Lake
exploration program in
Saskatchewan
.
About Purepoint Uranium Group Inc.
Purepoint Uranium Group Inc. (TSXV: PTU) is focused on the precision exploration of its ten
advanced-stage exploration projects in the Canadian Athabasca Basin, the world's richest uranium
region. Purepoint proudly maintains project ventures in the Basin with two of the largest uranium
producers in the world, Cameco Corporation and Orano Resources Canada Inc. and its flagship
project is the Hook Lake JV.
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.
SOURCE
Purepoint Uranium Group Inc.
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For further information:
Chris Frostad, President & CEO, Phone: (416) 603-8368, Email:
CO: Purepoint Uranium Group Inc.
CNW 06:30e 12-DEC-18