Up to $1,100,000 Non-Brokered Private Placement Announced by Purepoint Uranium Group

- December 9th, 2011

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Subject to TSX Venture Exchange approval, Purepoint Uranium Group (TSXV:PTU) announced a non-brokered private placement, of up to ten million flow-through units at a price of $0.11 per Unit, each Unit to consist of one flow-through common share and one common share purchase warrant in the capital of the Company, with each warrant to entitle the holder to purchase one additional common share at a price of $0.18 for a period of two years from closing.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
Subject to TSX Venture Exchange approval, Purepoint Uranium Group (TSXV:PTU) announced a non-brokered private placement of up to ten million flow-through units at a price of $0.11 per Unit, each Unit to consist of one flow-through common share and one common share purchase warrant in the capital of the Company, with each warrant to entitle the holder to purchase one additional common share at a price of $0.18 for a period of two years from closing.

As quoted in the press release:

Purepoint will pay a finder’s fee of 7% cash and 7% finder’s warrants to eligible parties under this private placement. The securities to be issued under the private placement will be subject to a four month hold period from the date of closing in accordance with applicable securities legislation.

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