Athabasca Nuclear Corporation Closes Flow-Through Financing
Vancouver, BC / TheNewswire / July 24, 2015 - Athabasca Nuclear Corp. (TSX-V: ASC) ("Athabasca Nuclear" or the "Corporation") reports that it has closed its previously announced flow-through financing by way of the issuance of 1,200,000 Flow-Through Units at a price of $0.05 per Flow-Through Unit (the "Flow-Through Financing").
Athabasca Nuclear advises that Mr. Ryan Kalt, Chairman and Chief Executive Officer of the Corporation subscribed for 500,000 Flow-Through Units as part of the Flow-Through Financing.
Following the Flow-Through Financing, the Corporation has 51,643,954 common shares issued and outstanding.
Each Flow-Through Unit under the Flow-Through Placement consisted of one flow-through common share and one common share warrant. Each warrant entitles 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 Flow-Through Financing was originally announced by the Corporation on June 19, 2015.
Shares issued pursuant to the Flow-Through Financing are subject to a four-month hold period pursuant to applicable securities laws of Canada.
Athabasca Nuclear expects to use the resulting gross proceeds of $60,000 of the Flow-Through Financing 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, 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:
Ryan Kalt, M.B.A., LL.M.
Chief Executive Officer
778-328-1598
info@athabascanuclear.com
www.athabascanuclear.com
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