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Macusani Yellowcake Completes First Tranche of Non-Brokered Private Placement TORONTO, ONTARIO--(Marketwired - July 4, 2014) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. Macusani Yellowcake Inc. (TSX VENTURE:YEL)(FRANKFURT:QG1) ("Macusani" or the "Company") announced that, further to its press release dated June 23, 2014, it has completed a first tranche of its non-brokered private placement of equity units ("Units") raising gross proceeds of approximately C$573,000. The Units were offered and sold at a price of C$0.07 per Unit with each Unit consisting of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of C$0.10 for a period of 24 months following the date of issuance. All securities issued in the private placement are subject to a 4-month hold period. Mega Uranium Ltd. ("Mega"), a company controlled by an insider of the Company, acquired 3,571,428 Units in the private placement. As a result of the participation in the private placement by Mega, the private placement is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101") and TSX Venture Exchange policy 5.9 ("Policy 5.9"). The transaction was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 and Policy 5.9 however, as neither the fair market value of the securities issued to Mega nor the cash consideration paid for such securities exceeded 25% of the Company's market capitalization. The participation of Mega in the private placement and the extent of such participation were not finalized until shortly prior to the completion of the placement. Accordingly, it was not possible to publicly disclose details of the nature and extent of related party participation in the private placement at least 21 days prior to the completion date. Net proceeds from the private placement will be used for property concession fees and for working capital and general corporate purposes. The Company is continuing to market the balance of the C$1,000,000 placement. The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful. |
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| aus der Diskussion: | Macusani Yellowcake Inc.: Potenzieller Verdoppler im Uransektor? |
| Autor (Datum des Eintrages): | ooy (09.07.14 18:24:49) |
| Beitrag: | 435 von 455 (ID:47285564) |
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