2006 DDN (Pre-listing)
2005 DDN (Pre-listing)
Feb 19, 2013
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| ||December 07, 2007|
Uranium North Announces Financing
| ||VANCOUVER, December 07, 2007 -- Uranium North Resources Corp. (TSX-V: UNR) announces that it intends to complete a non-brokered private placement to raise up to $1.5 million, through the sale of flow-through shares and non flow-through units, to finance exploration at the Company's projects in Canada and for general working capital.|
The flow-through shares will comprise up to 1,818,182 shares at $0.55 per share (the "Flow-Through Shares").
The non flow-through units will comprise up to 1,041,667 units at $0.48 per unit (the "Units). Each Unit will consist of one common share and one-half share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one common share at a price of $0.60 for one year following the closing.
A cash finder's fee of 5% of the gross proceeds may be payable on a portion of the placement. Finders may also receive warrants (the "Finders Warrants") entitling them to purchase that number of non flow-through common shares which is equal to 7% of the number of Flow-Through Shares and/or Units sold by the Finders. The Finders Warrants will expire twelve months after the closing of the Offering. The exercise price for the Finders Warrants will be $0.60 per common share.
The Flow-Through Shares, the Units and the Finders Warrants will be subject to a hold period of four months plus one day from the closing of the Offering.
This private placement is subject to regulatory approval.
About Uranium North Resources
Uranium North is a junior mineral exploration company focused on uranium opportunities in Canada. The Company holds 100% interest in three million acres of property located within the most prospective basins in Canada. Uranium North is focusing on five key projects, one of which hosts a historical resource (non NI 43-101 compliant).
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
For additional information please contact:
Uranium North Resources Corp.
Corporate Communications: Heather Kays
Telephone: (604) 484-2212
Facsimile: (604) 484-7143
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
You can view the Next News Releases item: Tue Dec 11, 2007, Airborne Geophysics Identifies New Targets and Corroborates Historic Uranium Prospects on South Baker
You can view the Previous News Releases item: Fri Nov 30, 2007, Uranium North Applies for Extension of Expiry Date of Warrants
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