sxr Uranium One plans $65 million private placement

By Sheri Kasprzak

New York, Jan. 13 - sxr Uranium One Inc. has arranged a private placement for $65 million.

BMO Nesbitt Burns Inc. will be the lead placement agent for the offering. The agents will have a greenshoe for up to $20 million in additional securities.

The pricing terms have not yet been set on the deal.

Proceeds will be used for the development of the company's Dominion uranium project. The rest will be used for general corporate purposes.

Toronto-based sxr is a uranium exploration company.

On Friday, the company's stock gained C$0.38, or 6.16%, to close at C$6.55 (Toronto: SXR).

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