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Purepoint Uranium plans C$15 million placement of shares
By Laura Lutz
Washington, Feb. 8 - Purepoint Uranium Group Inc. arranged a private placement of flow-through and non flow-through shares for C$15 million.
The company plans to sell C$10 million of flow-through shares and C$5 million of non flow-through shares.
The company will also raise C$5 million from a secondary offering by insiders.
Pricing of the shares will be determined in the context of the market.
Proceeds will be used to advance the company's nine uranium exploration projects and for general corporate purposes.
Settlement is expected on March 13.
Purepoint is a Toronto-based uranium exploration company. Its stock gained 5 cents, or 2.78%, to close at C$1.85.
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