By Sheri Kasprzak
New York, Feb. 27 - Titan Uranium Inc. negotiated the terms of a C$9 million private placement.
The deal includes up to 3 million units at C$3.00 each.
The units consist of one flow-through share and one half-share warrant. The whole warrants are exercisable for an additional flow-through share at C$3.25 each for two years.
The offering is being placed through agents Pacific International Securities Inc., PowerOne Capital Markets Ltd. and Canaccord Capital Corp.
Proceeds will be used for Canadian exploration expenses.
Located in Saskatoon, Sask., Titan is a uranium exploration company.
| Issuer: | Titan Uranium Inc.
|
| Issue: | Units of one flow-through share and one half-share warrant
|
| Amount: | C$9 million
|
| Units: | 3 million
|
| Price: | C$3.00
|
| Warrants: | One half-share warrant for an additional flow-through share per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.25
|
| Placement agents: | Pacific International Securities Inc., PowerOne Capital Markets Ltd. and Canaccord Capital Corp.
|
| Pricing date: | Feb. 27
|
| Stock symbol: | TSX Venture: TUE
|
| Stock price: | C$2.95 at close Feb. 26
|
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