Global Uranium Corp. Announces Private Placement Update
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Global Uranium Corp. Update on Private Placement
Global Uranium Corp. (CSE: GURN | OTC PINK: GURFF | FRA: Q3J) is excited to share an update regarding its planned non-brokered private placement initially announced on July 24, 2024. This revised offering aims to raise up to C$2,250,000.
Details of the Revised Offering
The Company has set the closing date for the Revised Offering around October 14, 2024. The offering includes two main components: First, the Company plans to offer units at a price of $0.35 each. This component, known as the Non-Flow Through Offering, seeks to generate up to C$1,500,000. Each unit consists of one common share and a warrant allowing the purchase of one additional share at a price of C$0.45 over the next 24 months.
Flow-Through Shares Offering
The second part of the offering involves flow-through units priced at $0.40 each, aiming to raise C$750,000. Each unit in this case consists of a flow-through common share and a warrant similar to the Non-Flow Through Offering. These flow-through shares are important as they qualify under the Income Tax Act (Canada) as flow-through shares, which can provide tax benefits for investors.
Use of Proceeds
The proceeds from this offering are earmarked for significant initiatives that align with the Company's growth strategy. Primarily, funds will support exploration initiatives at significant projects, including the Northwest Athabasca Project. Additionally, the proceeds may cover general and administrative expenses, including costs for investor awareness and promotional activities.
Investment in Exploration
Investing in exploration is crucial, as it fuels further project development. The funds raised, particularly from the sale of FT Shares, will cover Canadian exploration expenses, helping the Company to deepen its exploration efforts in uranium-rich territories.
Regulation and Compliance
All securities issued through this revised offering will be subject to a statutory four-month and one-day hold period. The closing is contingent upon obtaining all necessary regulatory approvals from bodies including the Canadian Securities Exchange. This is vital to ensure adherence to compliance requirements, safeguarding both the Company and its investors.
Commitment to Transparency
Global Uranium Corp. is committed to maintaining transparency with its stakeholders. An important focus remains to provide accurate and timely updates on progress regarding the offering and the Company’s exploration activities, keeping the investors informed about developments as they unfold.
About Global Uranium Corp.
Global Uranium Corp. is dedicated to exploring and developing uranium assets, primarily in North America. The company holds interests in two significant uranium projects in Canada: the Northwest Athabasca Project and the Wing Lake Property. Furthermore, the Company is advancing an agreement to acquire five additional uranium projects located in various districts in Wyoming, showcasing its strategic approach to expanding its asset portfolio.
Contact Information
For further inquiries, please reach out to Eli Dusenbury, the Director, at 604-359-1248 or via email at info@globaluranium.com.
Frequently Asked Questions
What is the purpose of the private placement?
The private placement aims to raise funds for exploration activities and general operational expenses.
How much capital does Global Uranium Corp. aim to raise?
The Company seeks to raise up to C$2,250,000 through the Revised Offering.
What projects will benefit from the proceeds?
The proceeds will support exploration efforts at the Northwest Athabasca Project and cover other operational costs.
What types of shares are being offered?
The offering includes both non-flow through units and flow-through shares, each with their distinct benefits for investors.
Who is responsible for overseeing the offering's compliance?
The Canadian Securities Exchange will review and approve the final offering, ensuring adherence to regulations.
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