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Plateau Uranium Inc. (TSXV:PLU) announced that it has filed a technical report on SEDAR to support the new resource estimates for its uranium properties on the Macusani Plateau in Peru.
As quoted in the press release:
Details regarding the new resource estimates can be found in the Company’s press release of May 6, 2015 and the technical report, both of which have been filed and are available for viewing and download on the Company’s profile at www.sedar.com.
Financing details:
Each Unit consisted of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of C$0.60 for a period of 18 months following the closing of the Financing. The Company has the right to accelerate the expiry of the Warrants on 30 days’ written notice if, following 4 months and one day from the issuance of the Warrants, the volume weighted average price of the common shares of the Company on the TSX Venture Exchange for any period of twenty (20) consecutive trading days exceeds C$0.95 per share. All securities issued in the private placement are subject to a 4-month hold period in Canada and such longer periods as may be required under other applicable securities laws.
The Company paid cash finders’ fees of C$171,869.48 to registered dealers in connection with the Financing. Net proceeds from the Financing will be used to update the Company’s previous economic study to incorporate the recently announced larger resource base, complete in-fill diamond drilling of known deposits to increase resource confidence and continuity, complete initial drill testing of at least two prospective surface uranium targets, conduct on-going permitting and environmental programs and for working capital and general corporate purposes.
Click here to read the Plateau Uranium Inc. (TSXV:PLU) press release
Click here to see the Plateau Uranium Inc. (TSXV:PLU) profile.