Purepoint Uranium Upsizes Flow-Through Private Placement

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PUREPOINT URANIUM UPSIZES FLOW-THROUGH PRIVATE PLACEMENT

For Immediate Release – Not for Dissemination in the United States or through U.S. Newswire Services

Toronto, Ontario, December 6, 2023 – Purepoint Uranium Group Inc. (TSXV: PTU)(OTCQB: PTUUF) (“Purepoint” or the “Company”) announced that due to strong investor demand, it has increased the offering size of the non-brokered private placement previously announced on November 27, 2023 from $2,500,000 to $4,000,000 (the “Offering”). Up to 76,190,477 flow-through units (“Units”) at a price of $0.0525 per Unit are issuable pursuant to the Offering. Each Flow-Through Unit consists of one common share of the Company to be issued on a “flow through” basis pursuant to the Income Tax Act (Canada) (each a “Flow-Through Share”) and one common share purchase warrant.  Each warrant entitles its holder to purchase one common share of the Company (each a “Warrant Share”) at an exercise price of $0.07 per share for a period of 24 months from the date of issuance. The closing of the Offering is expected to be on December 13, 2023, subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and corporate approvals, including the approval of the Offering by the TSX Venture Exchange.

About Purepoint

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates a uranium exploration pipeline of nine advanced projects in Canada’s Athabasca Basin. In addition to its flagship joint venture project at Hook Lake with partners Cameco and Orano and a second joint venture with Cameco at Smart Lake, Purepoint also holds seven 100% owned projects with proven uranium rich targets. With an aggressive exploration program underway on multiple projects, Purepoint is emerging as the preeminent uranium explorer in the world’s richest uranium district.

 

For more information, please contact:

Chris Frostad, President & CEO

Phone: (416) 603-8368

Email: cfrostad@purepoint.ca

For additional information please visit our new website at https://purepoint.ca,  our Twitter feed: @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

Disclosure regarding forward-looking statements

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

 

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