Puranium Energy arranges $580,223 private placement

Executive Summary

• Puranium Energy Ltd. announced a non-brokered private placement of up to 7,252,781 units at $0.08 per unit, raising gross proceeds of $580,223.
• Each unit consists of one common share and one common share purchase warrant, exercisable at $0.125 per share for 36 months.
• Proceeds are designated for general working capital, including approximately $185,000 to settle amounts owed to various creditors.

Key Details

• Structure: Non-brokered private placement of up to 7,252,781 units.
• Price: $0.08 per unit.
• Gross Proceeds: $580,223.
• Unit Composition: Each unit comprises one common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one additional common share at an exercise price of $0.125.
• Warrant Duration: 36 months from the closing of the offering.
• Hold Period: All securities are subject to a four-month-and-one-day statutory hold period and will be legended accordingly.
• Fees: No finders' fees will be paid in connection with the offering.
• Use of Proceeds: General working capital expenditures, with approximately $185,000 allocated to the settlement of amounts owed to various creditors.