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Global Uranium Closes C$750,000 Convertible Debenture Financing

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Global Uranium (GURN.CN) raised gross proceeds of C$750,000 as it closed its non-brokered private placement financing of unsecured convertible debentures, it said after markets closed Friday.

The debentures carry an interest rate of 10% per annum and mature two years from the date of issuance, said the company. The principal amount of the debentures is convertible into units of the company at the holder's option, subject to certain conditions, it said.

Each unit will be made up of a share and a two-year warrant entitling the holder to buy an additional share of the company at an exercise price of C$0.065 apiece, added Global Uranium.

Proceeds are slated for working capital and general corporate purposes, said the company.

Shares of the company were last seen unchanged at C$0.06 on the Canadian Securities Exchange.

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