Non-brokered deal sells 33,333,334 common-share units at C$0.03 each
By Devika Patel
Knoxville, Tenn., Aug. 31 – U3O8 Corp. said it plans a C$1 million non-brokered private placement of units.
The company will sell 33,333,334 units of one common share and one warrant at C$0.03 per unit.
Each warrant will be exercisable at C$0.045 for two years. The strike price reflects a 50% premium to the Aug. 30 closing share price of C$0.03.
Proceeds will be used principally to advance the Laguna Salada uranium-vanadium deposit toward a pre-feasibility study and for general corporate purposes.
The uranium explorer is based in Toronto.
| Issuer: | U3O8 Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 33,333,334
|
| Price: | C$0.03
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.045
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 31
|
| Stock symbol: | Toronto: UWE
|
| Stock price: | C$0.03 at close Aug. 30
|
| Market capitalization: | C$8.79 million
|
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