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SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES./
CALGARY, Feb. 27, 2020 /CNW/ - Uravan Minerals
Inc. ("Uravan" or the "Corporation") is pleased to
announce that, subject to regulatory approvals, it intends to issue
pursuant to a non-brokered private placement up to 5,000,000 units
("Units") at a price of $0.01
per Unit (the "Offering").
Each Unit consists of one common share of the Corporation
("Common Share") and one Common Share purchase warrant
("Warrant"). Each whole Warrant will expire 24 months from
the closing date and will entitle the holder to acquire one Common
Share of the Corporation at a price of $0.05 per Common Share.
Proceeds of the Offering will be used by Uravan for general and
working capital purposes as it pursues strategic alternatives.
Closing of the Offering is anticipated to occur on or about
March 6, 2020. The securities issued
pursuant to the Offering are subject to a four month hold period
under applicable laws.
Cautionary Statement
This press release may contain
forward looking statements including those describing Uravan's
plans and the expectations of management that a stated result or
condition will occur. Any statement addressing future events or
conditions necessarily involves inherent risk and uncertainty.
Actual results can differ materially from those anticipated by
management at the time of writing due to many factors, much of
which are beyond the control of Uravan and its management.
This news release contains forward-looking statements
pertaining. Readers are cautioned that the foregoing list of
risk factors should not be construed as exhaustive. These
statements speak only as of the date of this release or as of the
date specified in the documents accompanying this release. The
Corporation undertakes no obligation to publicly update or revise
any forward-looking statements except as expressly required by
applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Uravan Minerals Inc.