New Issue: American Uranium wraps $6,065,125 stock placement

By LLuvia Mares

New York, Sept. 5 - American Uranium Corp. announced Wednesday it concluded a $6,065,125 private placement.

The company sold the units at $0.75 per unit, with each consisting of one share and one-half warrant. Each whole warrant is exercisable at $1.25 for two years.

The proceeds will be used for working capital and to help meet the company's obligations under its recently announced joint venture on the Pine Tree-Reno Creek uranium project.

Denver-based American Uranium is a uranium exploration company that buys and develops uranium properties in the United States.

Issuer: American Uranium Corp.

Issue: Units of one share and one-half warrant

Amount: $6,065,125

Units: 8,860,835

Price: $0.75

Warrants: One half per unit

Warrant expiration: Two years

Warrant strike price: $1.25

Pricing date: Sept. 4

Stock symbol: OTCBB: AUUM

Stock price: $1.10 at close Sept. 4

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