|By Marketwired .||
|June 6, 2014 08:30 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 06/07/14 -- Athabasca Nuclear Corporation (TSX VENTURE:ASC) ("Athabasca Nuclear" or the "Corporation") is pleased to report that it has closed its previously announced financing (the "Private Placement") for gross proceeds of $161,759.01. A total of 2,310,843 units were issued as part of the Private Placement.
The Private Placement was announced on April 25, 2014 and amended by news release dated May 27, 2014. The Private Placement was comprised of units priced at $0.07, which consisted of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire one additional common share at a price of $0.105 for a period of twenty-four months.
The Chairman and CEO of the Corporation, Ryan Kalt, subscribed for a total of 1,428,600 units.
The units and underlying securities are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws. The Private Placement remains subject to final acceptance by the TSX Venture Exchange. Athabasca Nuclear paid a 7% finder's fee on certain non-insider subscriptions in the Private Placement
The proceeds of the Private Placement will be used for exploration on the Company's mineral exploration properties and for general working capital purposes.
About Athabasca Nuclear Corporation
Athabasca Nuclear Corporation (TSX VENTURE:ASC) is an energy exploration company based in Calgary, Alberta which is focused on uranium exploration in the Athabasca Basin of Saskatchewan, Canada. The Corporation is the Operator of the Western Athabasca Syndicate, a syndicated-exploration effort of a 287,130 hectare (709,513 acre) package of uranium properties which is among the largest land positions controlled by a single group along the prospective margin of the Western Athabasca Basin.
Ryan Kalt, Chief Executive Officer
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.