/NOT FOR DISSEMINATION IN THE
UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/
TORONTO, Dec. 12, 2018 /CNW/ - Purepoint Uranium Group
Inc. (TSXV: PTU) (the "Company") announced a non-brokered private
placement (the "Private Placement") of up to 7,777,778 flow-through
units (the "Flow-Through Units") at a price of $0.09 per unit for aggregate gross proceeds up to
$700,000. Each Flow-Through
Unit consists of one common share in the capital of the Company to
be issued on a "flow through" basis pursuant to the Income Tax
Act (Canada) and one common
share purchase warrant. Each warrant entitles its holder to
purchase one common share in the capital of the Company at an
exercise price of $0.13 per share for
a period of 24 months from the date of issuance.
The net proceeds of the Private Placement will be used to
advance the Company's Hook Lake exploration program in Saskatchewan.
About Purepoint Uranium Group Inc.
Purepoint Uranium Group Inc. (TSXV: PTU) is focused on the
precision exploration of its ten advanced-stage exploration
projects in the Canadian Athabasca Basin, the world's richest
uranium region. Purepoint proudly maintains project ventures in the
Basin with two of the largest uranium producers in the world,
Cameco Corporation and Orano Resources Canada Inc. and its flagship
project is the Hook Lake JV.
Neither the Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this Press
release.
Disclosure regarding forward-looking statements
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of the Company. These risks and uncertainties could
cause actual results and the Company's plans and objectives to
differ materially from those expressed in the forward-looking
information. Actual results and future events could differ
materially from those anticipated in such information. These and
all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and expressly qualified in their entirety by this notice.
SOURCE Purepoint Uranium Group Inc.