URAVAN UPDATES OFFERING ANNOUNCEMENT
December 07 2010 - 8:03AM
PR Newswire (Canada)
CALGARY, Dec. 7 /CNW/ -- /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ CALGARY, Dec.
7 /CNW/ - Uravan Minerals Inc. ("Uravan" or the
"Corporation") announces that it has modified the terms of the
"Share Offering" described in the press release dated December 6,
2010 to add a one half of a non-flow-through share purchase warrant
("Warrant") of the Corporation. As such the terms of the
Share Offering are effectively equal to the previously announced
"Unit Offering" and consist of 1,700,000 units ("Units") of the
Corporation for gross proceeds of $510,000. Each Unit consists of
one common share ("Common Share") issued on a flow through basis
pursuant to the Income Tax Act (Canada) and one half of a
non-flow-through share purchase warrant ("Warrant") of the
Corporation. Each whole Warrant will expire on December 1, 2012 and
will entitle the holder to acquire one Common Share of the
Corporation at a price of $0.45 per share for the first year
following the closing date of the Offering and $0.55 per share for
the period beginning 12 months from the closing date until 24
months from the closing date of the Offering. The Common Shares and
Warrants issued pursuant to the Offering are subject to a four
month hold period under applicable securities laws, which hold
period expires on April 2, 2011. Proceeds of the Offering will be
used by the Corporation to finance potential uranium opportunities
and for working capital and general corporate purposes. Uravan is a
Calgary Alberta based R&D mineral exploration company
specializing in developing new uranium exploration technologies.
Our vision is to get to discovery faster and more cost effectively
in under-explored frontier areas. Uravan is pursuing exploration
for potential high-grade unconformity-related uranium deposits in
the Athabasca and Thelon Basins in Canada and other basin
environments globally. Uravan is a publicly listed company on the
TSX Venture Exchange under the trading symbol "UVN". All of the
mineral properties Uravan owns are considered in the exploration
stage of development. This press release may contain forward
looking statements including those describing Uravan's future plans
and the expectations of management that a stated result or
condition will occur. Any statement addressing future events or
conditions necessarily involves inherent risk and uncertainty.
Actual results can differ materially from those anticipated by
management at the time of writing due to many factors, the majority
of which are beyond the control of Uravan and its management.
In particular, this news release contains forward-looking
statements pertaining, directly or indirectly, to the use of
proceeds of the Offering. Readers are cautioned that the
foregoing list of risk factors should not be construed as
exhaustive. These statements speak only as of the date of this
release or as of the date specified in the documents accompanying
this release, as the case may be. The Corporation undertakes no
obligation to publicly update or revise any forward-looking
statements except as expressly required by applicable securities
laws. The Common Shares and Warrants offered have not been and will
not be registered under the United States Securities Act of 1933,
as amended and may not be offered or sold in the United States
absent registration or an applicable exemption from the
registration requirement. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/December2010/07/c3135.html
pLarry Lahusen, CEObr/ Uravan Minerals Inc.br/ Tel: 403-264-2630br/
Email: a
href="mailto:llahusen@uravanminerals.com"llahusen@uravanminerals.com/a,br/
Website: a
href="http://www.uravanminerals.com"www.uravanminerals.com/a/p
Copyright
Uravan Minerals (TSXV:UVN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Uravan Minerals (TSXV:UVN)
Historical Stock Chart
From Jul 2023 to Jul 2024