News Northern Uranium closes first tranche of financing
Ticker Symbol: C:UNO
Northern Uranium closes first tranche of financing
Northern Uranium Corp (C:UNO)
Shares Issued 114,861,516
Last Close 3/26/2015 $0.065
Thursday March 26 2015 - News Release
Mr. Chad Ulansky reports
Northern Uranium Corp., further to its news releases of Feb. 25, 2015, and March 18, 2015, has closed the first tranche of its private placement, issuing 23.2 million flow-through (FT) common shares at a price of five cents per FT share and 11,852,500 units at five cents per unit, for gross proceeds of $1,752,625. Each unit consists of one non-flow-through common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to acquire an additional share at a price of 10 cents per share for a period of two years. In connection with the first closing, the company paid finders' fees in a total amount of $12,000 and issued a total of 240,000 finders' warrants, exercisable at 10 cents for a period of one year.
Proceeds from the first closing will be used to advance the company's northwest Manitoba exploration projects and for general working capital.
All securities issued in connection with the first closing are subject to a hold period expiring July 27, 2015.