Global Uranium Corp. Closes Private Placement: Fueling Exploration and Growth

Global Uranium Corp. (GURN) has successfully closed a private placement, raising C$2,450,000 from the issuance of flow-through units (FT Units). This significant funding will enable the company to advance its exploration efforts and create value for shareholders. Let's delve into the details of this strategic move and its implications for GURN's future.

The private placement consisted of the issuance of 3,266,666 FT Units at a price of $0.75 per unit. Each FT Unit comprises one flow-through common share and one-half of one non-flow-through common share purchase warrant. The gross proceeds from the sale of FT Units will be used to fund "Canadian exploration expenses" on GURN's projects, including the Northwest Athabasca Project, which are intended to qualify as "flow-through mining expenditures" under the Income Tax Act (Canada). The Company plans to renounce these expenditures to the initial purchasers of the FT Units, providing them with valuable tax deductions.



The net proceeds from the sale of non-flow-through units, totaling $1,500,000, will be allocated to fund exploration activities on GURN's projects and for general and administrative expenditures. This allocation will enable the company to advance its strategic acquisition plans, including the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Projects in Wyoming, USA. By expanding its uranium portfolio, GURN aims to capitalize on the growing demand for nuclear energy and secure a strong position in the uranium market.



The successful closure of this private placement demonstrates GURN's commitment to exploring and developing uranium assets primarily in North America. With a strong project portfolio and a well-funded exploration pipeline, the company is poised to create value for shareholders and contribute to the growth of the uranium industry. As the demand for clean energy continues to rise, GURN's strategic focus on uranium exploration and development positions it well to capitalize on the increasing interest in nuclear power as a low-emission energy source.

In conclusion, Global Uranium Corp.'s private placement is a significant milestone in the company's growth journey. With C$2,450,000 in gross proceeds, GURN can accelerate its exploration and development efforts, secure strategic acquisitions, and create value for shareholders. As the company continues to execute on its strategic plans, investors can expect to see meaningful progress in GURN's uranium projects and a strong position in the uranium market.