UEX Announces $4.0 Million "Flow-Through" Private Placement

UEX Corporation (TSX:UEX) is pleased to announce that it has entered into an agreement with Primary Capital Inc. under which the Agent has agreed to act as agent for the offering of 16,000,000 common shares of the Company which will qualify as “flow-through” shares pursuant to the Income Tax Act at a price of $0.25 per “flow-through” share to raise $4,000,000, on a “guaranteed” agency basis.
According to the news:

The Agent will have an option to increase the size of the Offering by up to an additional 4,000,000 “flow-through” shares at $0.25 per “flow-through” share to raise additional gross proceeds of up to $1,000,000.
The Agent will receive a cash commission on the sale of the “flow-through” shares equal to 5% of the gross proceeds raised.
The Company intends to use the gross proceeds of the “flow-through” Offering to fund exploration of the Company’s uranium properties.

Click here to view the full press release.