Purepoint Uranium Group Inc. Closes $1 Million Private Placement
Purepoint Uranium Group Inc. Closes $1
Million Private Placement
Toronto, Ontario--(Newsfile Corp. - June 18, 2025) - Purepoint Uranium Group Inc. (TSXV: PTU)
(OTCQB: PTUUF) ("
Purepoint
" or the "
Company
") announced today the closing of its previously
announced non-brokered private placement (the "
Private Placement
"). In connection with the closing,
the Company issued 4,607,200 flow-through units ("
Flow-Through Units
") at a price of $0.23 per unit
for aggregate gross proceeds of $1,059,656.
Each Flow-Through Unit consists of one common share in
the capital of the Company issued on a "flow through" basis pursuant to the
Income Tax Act
(Canada)
and one-half (1/2) common share purchase warrant.
Each whole warrant entitles its holder to purchase
one common share in the capital of the Company at an exercise price of $0.30 per share for a period of
24 months from the date of issuance.
In connection with the closing of the private placement, the Company paid Red Cloud Securities Inc. and
Accilent Capital Management Inc. finders' fees consisting of, in aggregate, $62,378.76 in cash and
271,212 non-transferable compensation warrants. Each compensation warrant entitles its holder to
purchase one common share in the capital of the Company at an exercise price of $0.23 per share for a
period of 24 months after the closing date.
The net proceeds of the Private Placement will be used for the exploration and advancement of the
Company's projects in the Athabasca Basin, Saskatchewan. All securities issued in connection with the
closing of the Private Placement are subject to a four-month hold period pursuant to the applicable
securities laws with an expiry date of October 18, 2025.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic
portfolio of advanced projects within the renowned Athabasca Basin in Canada. The most prospective
projects are actively operated on behalf of partnerships with industry leaders including Cameco
Corporation, Orano Canada Inc. and IsoEnergy Ltd.
Additionally, the Company holds a promising volcanogenic massive sulphide (VMS) project currently
optioned to Foran Mining Corporation that is geologically on trend with its McIlvenna Bay project.
Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading
explorer in one of the globe's most significant uranium districts.
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 news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. "Forward-looking information" includes, but is not limited to, statements with
respect to the activities, events or developments that the Company expects or anticipates will or may
occur in the future, including the Company's anticipated use of proceeds from the Private Placement.
Generally, but not always, forward-looking information and statements can be identified by the use of
words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved" or the negative connotation thereof.
Such forward-looking information and statements are based on numerous assumptions, including
among others, that the Company's planned exploration activities will be completed in a timely manner,
the Company will use the proceeds of the Private Placement as anticipated, and the Company will
receive final regulatory approval with respect to the Private Placement. Although the assumptions made
by the Company in providing forward-looking information or making forward-looking statements are
considered reasonable by management at the time, there can be no assurance that such assumptions
will prove to be accurate. Important factors that could cause actual results to differ materially from the
Company's plans or expectations include the risk that the Company may not use the proceeds of the
Private Placement as anticipated, the risk that the Company may not receive final regulatory approval
with respect to the Private Placement, the risk relating to the tax treatment of Flow-Through Units, the risk
relating to the actual results of current exploration activities, fluctuating uranium prices, possibility of
equipment breakdowns and delays, exploration cost overruns, general economic, market or business
conditions, regulatory changes, timeliness of government or regulatory approvals and other risks
detailed from time to time in the filings made by the Company with securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in the forward-looking information or implied by forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking information and statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on forward-looking statements or
information. The Company expressly disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future events or otherwise except as
otherwise required by applicable securities legislation.
Not for Dissemination in the United States or through U.S. Newswire Services
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