Athabasca Nuclear Corporation Announces Non-Brokered Financing
25 Abril 2014 - 7:00AM
Marketwired
Athabasca Nuclear Corporation Announces Non-Brokered Financing
CALGARY, ALBERTA--(Marketwired - Apr 25, 2014) - Athabasca
Nuclear Corporation (TSX-VENTURE:ASC) ("Athabasca Nuclear" or the
"Corporation") announces that it intends to conduct a non-brokered
private placement offering of up to 5,000,000 units (the "Units")
at a price of $0.10 per unit for gross proceeds of up to $500,000
(the "Offering"). Each Unit will consist of one common share of
Athabasca Nuclear (the "Common Shares") and one Common Share
purchase warrant (the "Warrants"), with each Warrant entitling the
holder thereof to purchase one additional Common Share at a price
of $0.15 per Common Share for a period of 24 months from closing of
the Offering.
Insider participation is expected to be 25% or greater of the
Offering.
The net proceeds of the Offering are expected to be used towards
the drill program anticipated to resume in May at the Preston
Uranium Project and for general corporate purposes.
The Units and underlying securities will be subject to a
four-month hold period from the date of issuance in accordance with
applicable securities laws. The Offering is subject to certain
conditions including the approval of the TSX Venture Exchange.
The Offering is expected to close on or before May 23, 2014.
In connection with the Offering, Athabasca Nuclear may pay up to
a 7% finder's fee on the gross proceeds of the Offering.
About Athabasca Nuclear Corporation
Athabasca Nuclear Corporation (TSX-VENTURE:ASC) is a junior
uranium exploration company focused on the exploration and
advancement of its significant uranium portfolio in Saskatchewan,
Canada including the Preston Uranium Project, Patterson Lake East,
Botham Lake, Parry Lake, Martin River, Karras River and Spring
uranium projects. For more information on each of these projects,
please visit www.AthabascaNuclear.com.
Athabasca Nuclear is the Operator of the Western Athabasca
Syndicate, a group exploration effort of a 287,130 hectare (709,513
acre) package of uranium properties, known as the Preston Uranium
Project, which is the largest land position along the highly
prospective margin of the Western Athabasca Basin controlled by a
single group.
Ryan Kalt, Chief Executive Officer
Forward-Looking
Statements
This news release contains forward-looking statements.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results
may differ materially from those currently expected or forecast in
such statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Athabasca Nuclear CorporationRyan Kalt, LL.M., M.B.A.Chairman
and Chief Executive
Officer403-470-3265ryan.kalt@athabascanuclear.comwww.AthabascaNuclear.com
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