Purepoint Uranium Group Inc (TSX-V:PTU, OTCQX:PTUUF, FRA:P5X0) announced that it has closed a non-brokered private placement, raising gross proceeds of approximately $1.01 million.
The company issued 2,648,978 flow-through units at $0.38 per unit. Each unit consists of one flow-through common share and one warrant, with each warrant exercisable at $0.50 per share for 12 months.
Purepoint paid finder's fees of $51,765.12 in cash and issued 136,224 compensation warrants, also exercisable at $0.50 per share for 12 months.
The net proceeds will be used to explore and advance the company's projects in Saskatchewan's Athabasca Basin. The securities are subject to a four-month hold period expiring December 27, 2026.