Purepoint Uranium (PTU-V) closes $679,334 rights offering, fully-subscribed
March 11, 2013 - News Release
Purepoint Uranium Group Inc. has completed its previously announced rights offering for aggregate gross proceeds of $679,334. The rights offering was fully subscribed with a total of 42,830,380 rights being exercised for 3,975,718 units pursuant to the basic subscription privilege and 5,729,055 units issued pursuant to the additional subscription privilege.
"We are extremely pleased by the success of this offering and the confidence our shareholders have demonstrated through their support of this financing," said Chris Frostad, president and chief executive officer of Purepoint.
Each unit was issued at a price of seven cents and comprised one common share of Purepoint and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of 10 cents per common share until the warrants expire at 5 p.m. on March 4, 2015.
In total, 9,704,773 common shares and 9,704,773 warrants were issued pursuant to this rights offering. The company now has 106,752,503 common shares issued and outstanding. |
