Purepoint Uranium Group Inc. announced a non brokered private placement of up to 47,619,048 flow-through units at a price of CAD 0.0525 for the gross proceeds of CAD 2,500,000 on November 27, 2023. Each flow-through unit will consist of one common share and one share purchase warrant. Each warrant entitles its holder to purchase one common share of the company at an exercise price of CAD 0.07 per share for a period of 24 months from the date of issuance.

As a part of the transaction, the company will pay a cash commission equal to 6% of the gross proceeds of the offering. The completion of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and corporate approvals, including the approval of the listing of the flow through shares, the warrant shares and the compensation warrant shares on the TSX Venture Exchange. Resale of the securities of the company distributed under the offering will be subject to a statutory hold period in Canada of four months and one day following the closing date of the offering.