10:01 AM EST - Purepoint Uranium Group Inc. : Announced the closing of its previously announced non-brokered private placement. In connection with the closing, the Company issued 48,642,857 flow-through units at a price of $0.07 per unit for aggregate gross proceeds of $3,405,000. Each Flow-Through Unit consists of one common share in the capital of the Company issued on a "flow through" basis pursuant to the Income Tax Act (Canada) and one half of a common share purchase warrant. Each whole warrant entitles its holder to purchase one common share in the capital of the Company at an exercise price of $0.105 per share for a period of 24 months from the date of issuance. Purepoint Uranium Group Inc.
shares V.PTU are trading up $0.01 at $0.07.
