Purepoint Uranium closes $1M private placement for Athabasca Basin

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) has closed a non-brokered private placement, raising approximately $1,006,612 through the issuance of 2,648,978 flow-through units at $0.38 per unit, according to a company statement.

Each flow-through unit consists of one common share issued under Canada's Income Tax Act and one common share purchase warrant. Each warrant allows the holder to purchase one additional common share at $0.50 for 12 months from the date of issuance.

In connection with the closing, the company paid finder's fees totaling $51,765 in cash and 136,224 non-transferable compensation warrants, each exercisable at $0.50 per share for 12 months from the closing date.

All securities issued are subject to a four-month hold period expiring December 27, 2026, under applicable securities laws.

The company said net proceeds will be directed toward exploration and advancement of its projects in the Athabasca Basin in Saskatchewan. Purepoint operates exploration programs through joint ventures with Cameco Corporation, Orano Canada Inc., and IsoEnergy Ltd.

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