TORONTO, ONTARIO--(Marketwired - March 1, 2017) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Plateau Uranium Inc. (" Plateau Uranium " or the " Company ") (TSX VENTURE:PLU)(FRANKFURT:QG1) is pleased to announce that it has completed its previously announced non-brokered private placement (the " Financing "). The Company issued and sold 3,452,380 units (" Units ") at a price of C$0.42 per Unit, raising gross proceeds of approximately C$1.45 million. Each Unit consisted of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of C$0.65 for a period of 18 months following the closing of the Financing. All securities issued in the Financing are subject to a 4-month hold period in Canada and such longer periods as may be required under other applicable securtiies laws.
The Company paid cash finders' fees of C$73,858.79 and issued 175,854 non-assignable finders' warrants to qualified finders in connection with the Financing. Each finders' warrant entitles the holder to acquire one common share of the Company at a price of C$0.65 for a period of 18 months following the closing of the Financing. Net proceeds from the Financing will be used to make property payments on the Company's uranium properties located in southeastern Peru and for working capital and general corporate purposes.
The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful.
About Plateau Uranium
Plateau Uranium Inc. is a Canadian uranium exploration and development company focused on its properties on the Macusani Plateau in southeastern Peru. The Company controls all reported uranium resources known in Peru and mineral concessions that cover over 100,000 hectares (1,000 km 2 ) situated near significant infrastructure. Plateau Uranium is listed on the TSX Venture Exchange under the symbol 'PLU' and the Frankfurt Exchange under the symbol 'QG1'. The Company has 58,043,354 shares outstanding following completion of the Financing. For more information please visit www.plateauuranium.com .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
