By Sheri Kasprzak
New York, Jan. 20 - Titan Uranium Inc. said it has upsized to C$2.6 million a previously announced C$2 million private placement.
The company now intends to sell up to 1,625,000 units at C$1.60 each.
The units consist of one share and one half-share warrant. The full warrants are exercisable at C$2.00 each for one year.
Canaccord Capital Corp. is the placement agent for C$2 million of the offering.
Proceeds will be used for working capital and the company's exploration program on its Athabasca and Nunavut properties.
Based in Saskatoon, Sask., Titan is a uranium exploration company.
| Issuer: | Titan Uranium Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$2.6 million (maximum)
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| Units: | 1,625,000 (maximum)
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| Price: | C$1.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$2.00
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| Placement agent: | Canaccord Capital Corp. (for C$2 million)
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| Announcement date: | Jan. 20
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| Stock symbol: | TSX Venture: TUE
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| Stock price: | C$1.75 at close Jan. 20
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