Athabasca Nuclear Corporation Announces Flow-Through Financing
Calgary, AB / TheNewswire / June 19, 2015 - Athabasca Nuclear Corp. (TSX-V: ASC) ("Athabasca Nuclear" or the "Corporation") is pleased to announce that it intends to conduct a non-brokered private placement of up to 5,000,000 flow-through units at a price of $0.05 per flow-through unit (the "Flow-Through Units") to raise gross proceeds of up to $250,000 (the "Flow-Through Placement").
Each Flow-Through Unit under the Flow-Through Placement will consist of one flow-through common share and one common share warrant. Each warrant will entitle the holder to purchase one additional non-flow-through common share of the Corporation at an exercise price of $0.05 per common share for a five year period from the closing date.
The Corporation advises that insiders of Athabasca Nuclear may participate for greater than 25% of the Flow-Through Placement.
Shares issued pursuant to the Flow-Through Placement shall be subject to a four-month hold period pursuant to applicable securities laws of Canada.
The Corporation may pay finder's fees on certain subscriptions of the Flow-Through Placement equal to 6%.
Athabasca Nuclear expects to use the resulting proceeds of the Flow-Through Placement for exploration of its Saskatchewan mineral exploration properties, including the Preston Uranium Project which is proximal to Fission Uranium Corp.'s and NexGen Energy Ltd.'s exciting uranium discoveries at PLS (Triple R) and Arrow respectively, and its Pikoo-area properties which are proximal to North Arrow Mineral Inc.'s new Pikoo diamond discovery.
About Athabasca Nuclear Corporation
Athabasca Nuclear Corp. (TSXV:ASC) is an exploration company focused primarily on uranium exploration near the Athabasca Basin in Saskatchewan, Canada, and other select opportunities. More information about Athabasca Nuclear and its projects may be found at www.athabascanuclear.com.
Signed,
Ryan Kalt, Chairman and Chief Executive Officer
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Info:
Sam Wong, C.A.
Chief Financial Officer
778-328-1598
info@athabascanuclear.com
www.athabascanuclear.com
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