Canadian Uranium closes $1-million private placement

Executive Summary

• Canadian Uranium Corp. closed a non‑brokered private placement of 4 million common shares at $0.25 per share, raising gross proceeds of $1 million.
• Shares are subject to a hold period of four months and one day; a $64,000 finder’s fee was paid in cash at closing.
• Net proceeds will be allocated to the second assignment fee, exploration work on its properties, and general working capital.

Key Details

• Placement Size: 4 million common shares.
• Price per Share: $0.25.
• Gross Proceeds: $1,000,000.
• Hold Period: Shares locked for 4 months + 1 day from issuance date.
• Finder’s Fee: $64,000 paid in cash at closing.
• Use of Net Proceeds:
• Payment of the second assignment fee.
• Funding exploration activities on Canadian Uranium’s Athabasca Basin properties.
• General working capital needs.

Notable Quotes

(No direct quotes were provided in the release.)