Athabasca Nuclear Corp.: Announces Financing
18.03.2016 | FSCwire
Vancouver - Athabasca Nuclear Corporation (TSX-V: ASC) (“Athabasca Nuclear” or the “Corporation”) is pleased to announce that it intends to conduct a non-brokered private placement of up to 8,020,000 common share units at a price of $0.05 per unit (the “Units”) to raise gross proceeds of up to $401,000 (the “Financing”).Each Unit under the Financing will consist of one common share and one full common share warrant. Each warrant will entitle the holder to purchase one additional common share of the Corporation at a price of $0.05 per common share for a one year period from the closing date.
The Corporation advises that insiders of Athabasca Nuclear may participate for greater than 25% of the Financing.
Shares issued pursuant to the Financing shall be subject to a four-month hold period pursuant to applicable securities laws of Canada.
The Corporation may pay finder's fees on certain subscriptions of the Financing equal to 7%. Net proceeds of the Financing will be used for working capital purposes and ongoing efforts to advance the Corporation’s exploration projects.
About Athabasca Nuclear Corporation
Athabasca Nuclear Corporation(TSXV:ASC) is an exploration company focused on uranium through its 50% interest in the Preston Uranium Project, one of the largest tenure positions in the emerging Western Athabasca Basin. The Corporation also holds other mineral exploration projects including its district-scale Wollaston NE Uranium Project. More information about Athabasca Nuclear and its projects may be found at www.athabascanuclear.com.
Signed,
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.
Contact Info:
Athabasca Nuclear Corporation
Brian Biles
604-329-4421
info@athabascanuclear.com
www.athabascanuclear.com