Global Uranium Corp. Announces Flow-Through Private Placement for up to C$1,500,000

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Global Uranium Corp. (CSE: GURN | OTCQB: GURFF | FRA: Q3J) (the “Company”) is pleased to announce a non-brokered flow-through private placement for gross proceeds of up to C$1,500,000 (the “Offering”).

The Offering is expected to consist of the offering of units of the Company at a price of $0.75 per unit (each, a “Unit”), with each Unit comprised of one flow-through common share of the Company (each, a “FT Share”) and one-half of one non-flow-through common share (“Share”) purchase warrant of the Company (each, a “Warrant”), with each whole Warrant entitling the holder to acquire one Share in the capital of the Company (each, a “Warrant Share”) at a price of C$0.95 per Warrant Share for a period of twenty-four months from the date of issuance (the “Non-Flow-Through Offering”). 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 Company’s 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. Closing of the Offering is subject to the Company’s receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange (the “CSE”). The Offering is expected to close on or about December 31, 2024.

The Company intends to pay a 5% cash finder's fee to eligible finders who introduce subscribers to the Company who participate in the Offering in accordance with the policies of the CSE and applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities 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 within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.