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FINWIRES

Purepoint Uranium Raises C$1 Million Via Private Placement

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Purepoint Uranium Group (PTU.V) closed its non-brokered private placement raising C$1 million, it said in a statement late Thursday.

The offering consisted of the issuance of 2.6-million flow-through units (flow-through units) at C$0.38 apiece. Each flow-through unit consisted of one common share and one common share purchase warrant.

Each warrant entitled its holder to buy a share for C$0.50 for a one-year period from the date of issuance. Proceeds will be used for the exploration and advancement of its projects in the Athabasca Basin, Saskatchewan, the uranium exploration company said.

The company's shares last traded Aug. 27, closing at C$0.37 on the TSX Venture Exchange.

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