Purepoint Uranium Closes Private Placement on December 16th, 2011

- December 19th, 2011

Purepoint Uranium(TSXV:PTU) announced that it completed a non-brokered private placement on December 16th, 2011. The private placement consists of 9,636,469 flow-through shares at $0.11 per share.

As quoted in the press release:

Purepoint Uranium(TSXV:PTU) announced that it completed a non-brokered private placement on December 16th, 2011. The private placement consists of 9,636,469 flow-through shares at $0.11 per share.

As quoted in the press release:

In connection with the private placement, the Company paid finders’ fees of $56,700.11 to certain finders (the “Finders). The Company also issued 571,140 non-transferable compensation options (“Compensation Options”) to the Finders. Each Compensation Option is exercisable into one non-flow-through common share at $0.11 per share. Each Compensation Option will expire 18 months after the closing date.

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