News -- completion of warrantsPOWERTECH URANIUM CORP. (“Powertech” or the “Company”) is pleased to announce that a total of 6,307,379 warrants, as well as the agent’s option for 1,080,000 shares, relating to the
Company’s brokered private placement completed on May 11, 2006 have been exercised. In addition, 1,250,000 warrants that were issued to Energy Metals Corporation pursuant to a prior transaction that closed in conjunction with the private placement on May 11, 2006 have also
been exercised. The total cash proceeds to the Company from the exercise of the warrants and agent’s option described above were $10,745,530. The Company currently has a cash position in
excess of $16 million. All unexercised warrants expired on May 11, 2007. There are no warrants outstanding in the Company. The Company currently has 49,288,998 shares issued and outstanding.
Powertech Uranium Corp. is a mineral exploration and development company that holds the Dewey-Burdock Uranium Deposit in South Dakota, the Centennial Project in Colorado, and the Dewey Terrace and Aladdin Projects in Wyoming, USA.
POWERTECH URANIUM CORP.
Per: “Richard F. Clement”
Richard F. Clement Jr.,
President& CEO