Global Uranium Corp. Announces Upsized Private Placement for Gross Proceeds up to C$2,450,000
Summary
The FT Shares issued under the Offering are intended to qualify as flow through shares within the meaning of the Income Tax Act (Canada) (the Tax Act).The gross proceeds from the sale of the FT Shares will be used to incur Canadian exploration expenses on the Companys projects, including at the Northwest Athabasca Project, that are intended to qualify as flow-through mining expenditures as those terms are defined in the Tax Act, which the Company intends to renounce to the initial purchasers of the FT Shares.All securities issued in the Offering will be subject to a statutory four month and one day hold period. The use of any of the words could, intend, expect, believe, will, projected, estimated and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companys current belief or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Offering, including the total anticipated proceeds, the expected use of proceeds, the Companys expectation that the FT Shares will qualify as flow-through shares as defined in the Tax Act, the Companys intention to renounce the flow-through mining expenditures to the initial purchasers of the FT Shares, the closing (including the proposed closing date) of the Offering and the Companys intention to pay finders fees in connection with the Offering (including the amount of any finders fees ultimately paid). Although such statements are based on reasonable assumptions of the Companys management, there can be no assurance that any conclusions or forecasts will prove to be accurate. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information.