Purepoint Uranium Sets Final Size of Private Placement at $6 Million
Purepoint Uranium Sets Final Size of Private
Placement at $6 Million
Toronto, Ontario--(Newsfile Corp. - August 19, 2025) - Purepoint Uranium Group Inc. (TSXV: PTU)
(OTCQB: PTUUF) ("
Purepoint
" or the "
Company
") announces that it has set the final size of its
previously announced non-brokered flow-through private placement (the "
Offering
") at $6,000,000. The
book is now fully subscribed, and no further subscriptions will be accepted.
The Offering will now be comprised of a combination of the following:
3,846,154 Saskatchewan flow-through units of the Company (each, a "
SFT Unit
") at a price of
$0.65 per SFT Unit for aggregate gross proceeds of $2,500,000 with each SFT Unit consisting of
one common share of the Company to be issued on a "flow through" basis pursuant to the Income
Tax Act (Canada) (each a "
SFT Share
") and one common share purchase warrant (each, a
"
Warrant
");
4,479,757 national flow-through units of the Company (each, a "
NFT Unit
") at a price of $0.59 per
NFT Unit for aggregate gross proceeds of $2,643,057 with each NFT Unit consisting of one
common share of the Company to be issued on a "flow through" basis pursuant to the Income Tax
Act (Canada) (each a "
NFT Share
") and one Warrant; and
Up to 1,452,446 traditional flow-through units of the Company (each, a "
TFT Unit
", together with
the SFT Unit and the NFT, the "
Units
") at a price of $0.59 per TFT Unit for aggregate gross
proceeds up to $856,943 with each TFT Unit consisting of one common share of the Company to
be issued on a "flow through" basis pursuant to the Income Tax Act (Canada) (each a "
TFT
Share
", together with the SFT Shares and the NFT Shares, the "
FT Shares
") and one Warrant.
Each Warrant entitles its holder to purchase one common share of the Company (each a "
Warrant
Share
") at an exercise price of $0.50 per share for a period of 24 months from the date of issuance.
The gross proceeds of the FT Shares sold under the Offering will be used for Canadian Exploration
Expenses (within the meaning of
the Income Tax Act (Canada)) which qualify as a "flow-through mining
expenditure" for purposes of the Income Tax Act (Canada) related to the
exploration program of the
Company to be conducted on the Company's properties located in the Athabasca Basin,
Saskatchewan. The Company will renounce such Canadian Exploration Expenses with an effective date
of no later than December 31, 2025.
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 the listing of the FT Shares
and the Warrant Shares on the TSX Venture Exchange. Resale of the securities of the Company
distributed under the Offering will be subject to a statutory hold period in Canada of four months and one
day following the closing date of the Offering. The Company is targeting to close the Offering on or
around August 28, 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. Highly prospective
uranium 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 VHMS project currently optioned to and strategically
positioned adjacent to and on trend with Foran Corporation's 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 completion of planned exploration activities, the ability of the Company
to complete the Offering on the proposed terms or at all, statements regarding the tax treatment of the
Units and the timing to renounce all Canadian Exploration Expenses, the anticipated use of proceeds
from the Offering and receipt of regulatory approvals with respect to the Offering. 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 connation 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,
that the Company will be able to complete the Offering on the terms as anticipated by management, that
the Company will use the proceeds of the Offering as anticipated, and that the Company will receive
regulatory approval with respect to the Offering. 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.
There can be no assurance that such statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such statements. Important factors that could
cause actual results to differ materially from the Company's plans or expectations include the risk that the
Company will not be able to complete the Offering on the terms as anticipated by management or at all,
that the Company will not use the proceeds of the Offering as anticipated, that the Company will not
receive regulatory approval with respect to the Offering, risks relating to the actual results of current
exploration activities, fluctuating uranium prices, possibility of equipment breakdowns and delays,
exploration cost overruns, availability of capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or regulatory approvals and other risks
detailed herein and 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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