Purepoint Uranium Group Inc. Closes Private Placement
Purepoint Uranium Group Inc. Closes Private
Placement
Toronto, Ontario--(Newsfile Corp. - August 27, 2026) - Purepoint Uranium Group Inc. (TSXV: PTU)
(OTCQB: PTUUF) ("
Purepoint
" or the "
Company
") announced today the closing of its non-brokered
private placement (the "
Private Placement
"). In connection with the closing, the Company issued
2,648,978 flow-through units ("
Flow-Through Units
") at a price of $0.38 per unit for aggregate gross
proceeds of $1,006,611.64.
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 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 $0.50 per share for a period of 12 months from the date of
issuance.
In connection with the closing of the Private Placement, the Company paid finder's fees consisting of, in
aggregate, $51,765.12 in cash and 136,224 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 $0.50 per share for a period of 12 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 December 27, 2026.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a uranium exploration company
operating at the heart of the Athabasca Basin - the world's premier high-grade uranium district.
Purepoint actively operates exploration programs on behalf of joint venture partnerships with three of the
world's leading uranium companies: Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd.
Purepoint's strategy of advancing projects through partnerships with leading uranium companies allows
the Company to leverage technical expertise and partner funding while maintaining meaningful exposure
to discovery success.
Purepoint operates the Dorado Project under a 50/50 joint venture with IsoEnergy Ltd., where the Nova
Discovery returned confirmed assays of up to 8.1% U
₃
O
₈
and a mineralized corridor now extends to one
kilometre. The Company also operates the Hook Lake and Smart Lake projects under joint venture with
Cameco Corporation and Orano Canada Inc. Purepoint's wholly owned property portfolio includes
additional exploration-stage uranium assets in the Athabasca Basin region.
Additionally, Purepoint holds a promising VMS project optioned to and strategically positioned adjacent
to Eldorado Gold's McIlvenna Bay project.
For more information, please contact:
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email:
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.
For Immediate Release - Not for Dissemination in the United States or through U.S. Newswire
Services
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https://www.newsfilecorp.com/release/311808