Puranium Energy Raises CA$580K, Issues Warrants at CA$0.125 for 36 Months
Puranium Energy closed a non-brokered private placement of 7,252,781 units at CA$0.08, raising CA$580,222, and issued 2,252,781 units to settle CA$180,222 of debt. Each unit includes one common share and a warrant exercisable at CA$0.125 for 36 months, with proceeds earmarked for working capital.
1. Private Placement Closed
Puranium Energy closed a non-brokered private placement by issuing 7,252,781 units at CA$0.08 each for gross proceeds of CA$580,222.42, with net proceeds allocated to working capital and securities subject to a four-month and one-day hold period.
2. Warrant Terms
Each unit comprises one common share and one warrant exercisable at CA$0.125 for 36 months, giving investors the right to acquire additional shares at a premium over the placement price.
3. Shares-for-Debt Transaction
The company also settled CA$180,222.50 of outstanding debt by issuing 2,252,781 units on identical terms, a related party transaction relying on MI 61-101 exemptions and subject to the same hold period.