Mesa Uranium Announces Non-Brokered Private Placement
February 17 2011 - 12:00PM
Marketwired
Mesa Uranium Corp. (TSX VENTURE: MSA)(PINK SHEETS: MSAJF) ("Mesa"
or the "Company") is pleased to announce a non-brokered private
placement (the "Offering") of up to 500,000 units (the "Units") at
a price of $1.10 per Unit for gross proceeds of up to $550,000.
Each Unit will consist of one common share (a "Share") in the
capital of Mesa and one non-transferable common share purchase
warrant (a "Warrant"). Each whole Warrant will entitle the holder
thereof to purchase one additional common share (a "Warrant Share")
in the capital of Mesa at a price of $1.60 per Warrant Share. The
warrants will expire 24 months from the date of issue unless the
closing price of the common shares has been $2.20 cents or higher
for 20 consecutive trading days, in which case the warrants will
expire if not exercised within 30 days. The securities issued under
the Offering will be subject to a four month hold period under
applicable Canadian securities laws. The Offering is subject to TSX
Venture Exchange approval.
Proceeds from the Offering will be used to advance Mesa's
exploration projects and for general working capital. Certain
insiders of the Company will participate in the offering.
About Mesa Uranium
Mesa is exploring a portfolio of premier uranium, lithium and
potash properties in the United States where it controls
significant land holdings. All projects are within proven mining
districts with excellent access and infrastructure. Mesa currently
has 12.2 million shares issued and outstanding. For further
information please visit our website at www.mesauranium.com.
ON BEHALF OF THE BOARD MESA URANIUM CORP.
Foster Wilson, President and CEO
This news release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, including the likelihood of
commercial mining and possible future financings are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include unsuccessful exploration
results, changes in metals prices, changes in the availability of
funding for mineral exploration, unanticipated changes in key
management personnel and general economic conditions. Mining is an
inherently risky business. Accordingly the actual events may differ
materially from those projected in the forward-looking statements.
For more information on the Company and the risks and challenges of
its business, investors should review the Company's annual filings
that are available at www.sedar.com.
The TSX Venture Exchange has neither approved nor disapproved of
the contents of this news release.
Contacts: Mesa Uranium Corp. Corporate Communications
775-824-4533 www.mesauranium.com
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