Global Uranium Corp. Announces Closing of Convertible Debenture Financing

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(CSE: GURN | OTC: GURFF | FRA: Q3J) (the “Company“) is pleased to announce that it has closed its previously announced non-brokered private placement financing of unsecured convertible debentures (the “Debentures”) for aggregate gross proceeds of C$750,000 (the “Offering”).The Debentures bear interest at a rate of 10% per annum and mature 24 months from the date of issuance.The principal amount of the Debentures is convertible, at the option of the holder, into units of the Company (the “Units”) at any time prior to maturity at a conversion price equal to the 5-day volume weighted average trading price of the Company’s common shares at the time of conversion, subject to compliance with the policies of the Canadian Securities Exchange, including that the conversion price may not be less than $0.05 per Unit.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againEach Unit will consist of one common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one additional common share of the Company for a period of 24 months from the date of issuance of the Unit at an exercise price of $0.065 per share.The Company intends to use the proceeds of the Offering for working capital and general corporate purposes, including advancement of its uranium exploration projects.All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws.No finder’s fees were paid in connection with the Offering.ABOUT GLOBAL URANIUM CORP.Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. The Company currently holds key uranium projects, including the Astro Project in the eastern Athabasca Basin of Saskatchewan, the Airline Project in Wyoming, and additional uranium exploration projects in Wyoming and Saskatchewan.ON BEHALF OF THE BOARD OF DIRECTORSUngad ChaddaCEO 587-330-0045info@globaluranium.comFORWARD-LOOKING STATEMENTSThis news release contains certain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as “plans”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates” and other similar words, or statements that certain events or conditions “may”, “could”, “would” or “will” occur.Forward-looking information in this news release includes, but is not limited to, statements regarding the intended use of proceeds from the Offering and the Company’s exploration and development plans. Such forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made. Actual results may differ materially from those expressed or implied by such forward-looking information due to known and unknown risks, uncertainties and other factors. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information except as required by applicable securities laws.The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.