Vancouver, British Columbia (FSCwire) - Athabasca Nuclear Corporation (TSX-V: ASC) (“ASC” or the “Corporation”) is pleased to announce that it intends to conduct a non-brokered private placement of up to 10,000,000 common share units at a price of $0.10 per unit (the “Units”) to raise gross proceeds of up to $1,000,000 (the “Financing”).
Net proceeds of the Financing will be used to advance ASC’s district-scale Quebec lithium projects in the Whabouchi Lithium District, to fund potential new acquisitions of additional lithium assets and for general working capital purposes.
Each Unit under the Financing will consist of one common share and one common share warrant. Each warrant will entitle the holder to purchase one additional common share of the Corporation at a price of $0.15 per common share for a one year period from the closing date.
Shares issued pursuant to the Financing shall be subject to a four-month hold period pursuant to applicable securities laws of Canada.
ASC may pay finder's fees on certain subscriptions of the Financing equal to 7%.
About Athabasca Nuclear Corporation
Athabasca Nuclear Corporation (TSXV:ASC) is an exploration company focused on its 50% interest in the district-scale Preston Uranium Project, one of the largest tenure positions in the emerging Western Athabasca Basin and its 100% position in the Spodumene Lake and Dumont Lithium Projects, which combined represent the large tenure position in the Whabouchi Lithium District. 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:
Brian Biles
604-329-4421
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www.athabascanuclear.com
