Not for Dissemination in the United States or through U.S. Newswire Services
FOR IMMEDIATE RELEASE
Purepoint Uranium Group Inc. Rights Offering
Toronto, November 13, 2014 – Purepoint Uranium Group Inc. (“Purepoint” or the “Company”) (TSX-V: PTU) is today reminding holders of the company’s common shares that rights granted under its previously announced rights offering (the “Rights Offering”) will be expiring November 21, 2014 (“Rights Expiry Date”). Further, orders to exercise these rights should be placed on or before November 18, 2014 in order to ensure that they are cleared prior to expiry.
Shareholders of record on October 24, 2014 received one right (a “Right”) for each Common Share held. Eight (8) Rights plus the sum of $0.05 will entitle the Rights holder to subscribe for one unit of the Company (a “Unit”) which will be comprised of one (1) Common Share and one half (1/2) of a warrant. Each whole warrant will entitle the holder to purchase an additional Common Share (i) at an exercise price of $0.08 per Common Share at any time from the date of issue of the Warrant until 5:00 p.m. (Toronto time) on the date that is six (6) months from the date of issue, or (ii) at an exercise price of $0.10 per Common Share at any time from the date that is the first day of the seventh (7th) month from the date of issue until 5:00 p.m. (Toronto time) of the date that is twenty four (24) months from the date of issue. The Rights issued under the Rights Offering will be evidenced by transferable rights certificates (each, a “Rights Certificate”), and will expire at 5:00 p.m. (Toronto time) on the Rights Expiry Date, after which time unexercised Rights will be void and of no value.
The Rights have been posted for trading on the TSX-V and trading under the symbol “PTU.RT”. Trading of the Rights is expected to continue until 12:00 noon (Toronto time) on the Rights Expiry Date.
A Rights Offering Circular, together with Rights Certificates, was mailed to eligible shareholders shortly after the Record Date. Registered shareholders wishing to exercise their Rights must forward the completed Rights Certificates, along with the applicable funds to CST Trust Company by the Rights Expiry Date. Shareholders who own their shares through an intermediary, such as a bank, trust company, securities dealer or broker, will have received materials and instructions from their intermediary.
No U.S. Registration
The securities offered will not be or have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. person (as defined in Regulation S of the Securities Act) or person in the United States, unless an exemption from such registration requirements is available. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States.
Purepoint Uranium Group Inc. is focused on the precision exploration of its ten projects in the Canadian Athabasca Basin. Purepoint proudly maintains project ventures in the Basin with two of the largest uranium producers in the world, Cameco Corporation and AREVA Resources Canada Inc. Established in the Athabasca Basin well before the initial resurgence in uranium earlier last decade, Purepoint is actively advancing a large portfolio of multiple drill targets in the world’s richest uranium region.
This press release contains forward-looking statements, which reflect the Company’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company’s Rights Offering Circular for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.
For further information please contact:
Purepoint Uranium Group Inc.
Chris Frostad, President and CEO