Cue closes $2.5-million second trancheHello everyone,
Cue closes $2.5-million second tranche
2007-10-16 20:06 ET - News Release
Mr. Rahoul Sharan reports
On Oct. 16, 2007, Cue Capital Corp. closed the second tranche of the private placement financing subscribed for by Cameco Global Exploration Ltd. as reported in Stockwatch on Sept. 5, 2007. The second tranche funding consisted of the placement of 1,572,327 units at a price of $1.59 per unit for private placement proceeds of $2.5-million. Each unit consisted of one share of Cue and one-half share purchase warrant with one full warrant being exercisable at a price of $2.14 to purchase one additional share of Cue for a period of two years from the date of closing. The shares and warrants and any shares of Cue acquired on the exercise of the warrants were or will be issued subject to a four-month hold expiring on Feb. 17, 2008. By virtue of the private placement, Cameco Global Explorations Ltd., a wholly owned subsidiary of Cameco Corporation, the world's largest uranium producer, now holds 4,219,385 common shares of Cue representing 15.4 per cent of the issued and outstanding shares of Cue as at Oct. 16, 2007, and 2,109,692 warrants, which if exercised would give rise to the issuance of 2,109,692 shares. A concurrent release with respect to the transaction is being made by Cameco. The proceeds of the second tranche of the private placement will be primarily used by Cue for uranium exploration and development programs within the approximately 236,000 hectare Yuty uranium project located in the districts of Felgencio Yegros, Yuty and Leandro Oviedo, in the departments of Cazaapa and Itapua, Paraguay.
GLTA,
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