Purepoint Uranium finalizes $6 million private placement offering

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) has set the final size of its non-brokered flow-through private placement at $6 million, with the offering now fully subscribed.

The offering comprises three types of units. Saskatchewan flow-through units will be priced at $0.65 each, raising $2.5 million through the issuance of 3,846,154 units. National flow-through units will be priced at $0.59 each, generating $2.64 million from 4,479,757 units. Traditional flow-through units will also be priced at $0.59 each, with up to 1,452,446 units raising approximately $857,000.

Each unit includes one common share issued on a flow-through basis and one warrant. The warrants allow holders to purchase additional common shares at $0.50 per share for 24 months from the issuance date.

The company will use proceeds for Canadian Exploration Expenses qualifying as flow-through mining expenditures under the Income Tax Act for exploration programs in Saskatchewan's Athabasca Basin. Purepoint will renounce these expenses with an effective date no later than December 31, 2025.

The closing requires regulatory and corporate approvals, including TSX Venture Exchange approval for listing the flow-through shares and warrant shares. Securities distributed under the offering will be subject to a four-month and one-day statutory hold period in Canada. The company targets closing the offering around August 28, 2025.

Purepoint operates uranium exploration projects in the Athabasca Basin through partnerships with Cameco Corporation, Orano Canada Inc., and IsoEnergy Ltd. The company also holds a VHMS project currently optioned and positioned adjacent to Foran Corporation's McIlvenna Bay project.

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