Each Subscription Receipt entitles the holder thereof to automatically receive, upon satisfaction or waiver, as applicable, of certain escrow release conditions (the 'Escrow Release Conditions'), one unit of PUR (a 'Unit'). Each Unit will be comprised of one common share of PUR (each, a 'Unit Share') and one-half of one common share purchase warrant of PUR (each whole warrant, a 'Warrant'). Each whole Warrant will entitle the holder to purchase one common share of PUR (each, a 'Warrant Share') at a price of
The Agents have an option, exercisable in whole or in part within 30 days of the date of closing of the PUR Offering, to offer for sale up to an additional 2,333,334 Subscription Receipts at the Offering Price for additional gross proceeds of up to
The proceeds of the PUR Offering, net of the cash commission payable to the Agents and the reasonable out-of-pocket expenses of the Agents, will be held in escrow and not released to PUR unless the Escrow Release Conditions are satisfied on or before
In addition, PUR issued 174,343 broker warrants (the 'Broker Warrants') to the Agents. Each Broker Warrant entitles the holder to purchase one common share of PUR at the Offering Price for a period of 36 months following the closing of the PUR Offering.
This news release does not constitute an offer of securities for sale in
About
The Company is currently advancing its portfolio of permitted, past-producing conventional uranium and vanadium mines in
Contact:
Tel: 1-833-572-2333
Email: pwilliams@consolidateduranium.com
Cautionary Statement Regarding 'Forward-Looking' Information
This news release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. 'Forward-looking information' includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including, but not limited to, the satisfaction or waiver, as applicable, of the Escrow Release Conditions and completion of the Spin-Out and the Listing; the use of proceeds from the PUR Offering and the Company's ongoing business plan, sampling, exploration and work programs. Generally, but not always, forward-looking information and statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Spin-Out and the Listing; that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: the diversion of management time on the Spin-Out and Listing; negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals and the risk factors with respect to
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
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