For Immediate Release – Not for Dissemination in the United States or through U.S. Newswire Services
Toronto, Ontario, November 19, 2024 – Purepoint Uranium Group Inc. (TSXV: PTU)(OTCQB: PTUUF) (“Purepoint” or the “Company”) announced that it has increased the offering size of the non-brokered private placement, previously reported on October 22, 2024, from $2,000,000 to $2,200,000 (the “Offering”) to accommodate strategic new shareholders.
The Company also announced that, effective tomorrow (November 20, 2024), its common shares will be consolidated on a 10:1 basis. Following the consolidation, shareholders will receive one post-consolidation share for every ten pre-consolidation shares held. The consolidation aligns the Company’s share structure with its growth strategy and positions it more competitively within the capital markets.
Up to 7,333,333 units (“Units”) at a price of $0.30 per Unit are issuable pursuant to the Offering. Each Unit consists of one post-consolidation common share of the Company and one common share purchase warrant. Each warrant entitles its holder to purchase one post-consolidation common share of the Company at an exercise price of $0.40 per share for a period of 36 months from the date of issuance. The closing of the Offering remains 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 Uranium Group Inc.
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca Basin in Canada. The most prospective projects are actively operated on behalf of partnerships with industry leaders including Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd.
Additionally, the Company holds a promising VHMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Corporation’s McIlvena Bay project. Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe’s most significant uranium districts.
For further information, please contact:
Purepoint Uranium Group Inc.
Chris Frostad, President and CEO
(416) 603-8368
cfrostad@purepoint.ca
www.purepoint.ca
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