Global Uranium Corp. Secures $2.45 Million through Placement

Global Uranium Corp. Finalizes Successful Private Placement

Global Uranium Corp. (CSE: GURN | OTCQB: GURFF | FRA: Q3J) has achieved a significant milestone by successfully closing a private placement designed specifically to bolster its uranium exploration projects. The company has secured gross proceeds of C$2,450,000 through this initiative, which involved issuing a total of 3,266,666 flow-through units, marketed at a price of $0.75 each. This funding is vital as it enables the company to accelerate its activities across its high-potential uranium assets.

Understanding the Flow-Through Unit Structure

Composition of Flow-Through Units

Each flow-through unit, referred to as FT Units, comprises one flow-through common share, known as FT Shares, alongside one-half of a non-flow-through common share purchase warrant, defined as a Warrant. The Warrants empower holders to acquire shares priced at $0.95 each for the next twenty-four months, thus presenting a promising opportunity for investors looking to participate in the company's growth.

Strategic Use of Funds

The proceeds generated from this private placement will be strategically allocated to fund Canadian exploration expenses. These expenses are classified under flow-through mining expenditures according to specific tax regulations, allowing the company to renounce these expenses to the initial investors. This strategic funding plan not only solidifies the company's operational base but also aligns with its long-term exploration goals.

Future Prospects and Hold Period

Investors can be assured of a defined hold period for the securities issued as part of the private placement, which will expire on April 23, 2025. This ensures that all transactions comply with applicable securities legislation, providing a layer of protection for investors during this timeframe.

About Global Uranium Corp.

Global Uranium Corp. specializes in the exploration and development of uranium resources primarily situated in North America. Their portfolio includes crucial projects such as the Wing Lake Property located in the Mudjatik Domain, crucial joint ventures in the Northwest Athabasca region, and several significant projects in Wyoming, USA. These endeavors highlight the company's commitment to tapping into the growing demand for uranium, driven by clean energy needs.

Conclusion: Commitments and Responsibilities

In conclusion, the private placement demonstrates Global Uranium Corp.'s dedication to advancing its exploration strategy and capitalizing on lucrative market opportunities. The management team, spearheaded by CEO Ungad Chadda, is optimistic about the positive impacts this funding will have on the company's future trajectory and overall objectives.

Frequently Asked Questions

What will the proceeds from the private placement be used for?

The proceeds will fund Canadian exploration expenses, specifically flow-through mining expenditures as defined by the relevant tax act.

How long will the securities issued remain under a hold period?

The hold period for the securities issued will expire on April 23, 2025.

What is the price of the flow-through units?

The flow-through units were issued at a price of $0.75 each.

What is the role of the Warrants in this placement?

The Warrants allow holders to purchase shares at a price of $0.95 each for a period of twenty-four months from the issuance date.

What are the primary projects of Global Uranium Corp.?

Global Uranium Corp. focuses on uranium exploration primarily in the Wing Lake Property, the Northwest Athabasca Joint Venture, and several projects in Wyoming.

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