Energy

Purepoint Uranium Group Inc. (TSXV: PTU) ("Purepoint" or the "Company") has announced that it has obtained a final receipt for the final base shelf prospectus (the "Base Shelf Prospectus") it filed with the securities regulatory authorities in each of the provinces and territories of Canada.

The Base Shelf Prospectus allows the Company to qualify the distribution by way of prospectus of common shares, warrants, units and subscription receipts (all of the foregoing, collectively, the "Securities") or any combination thereof for aggregate gross proceeds of up to $15 million during the 25-month period that the Base Shelf Prospectus remains effective. The specific terms of any offering of Securities will be set forth in a prospectus supplement to the Base Shelf Prospectus, which will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.

"Factors affecting the uranium fuel cycle and the global capital markets have been changing quickly. This base shelf prospectus provides Purepoint additional financial flexibility and efficient access to institutional capital so we can rapidly close on fundraisings when access to capital is available at reasonable terms", said Chris Frostad, President & CEO of Purepoint.

The Company has not entered into any agreements or arrangements to offer or authorize the sale of any Securities at this time.

In connection with the filing of the Base Shelf Prospectus filing, the Company has re-filed a technical report entitled "Technical Report on the Hook Lake Uranium Project Northern Saskatchewan, Canada" dated August 8, 2022 which amended the original technical report dated April 19, 2022 (the "Amended Technical Report"). A copy of the Base Shelf Prospectus and the Amended Technical Report can be found under the Company's profile at www.sedar.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Securities in the United States. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Purepoint

Purepoint Uranium Group Inc. actively operates an exploration pipeline of 12 advanced projects in Canada's Athabasca Basin, the world's richest uranium region. Purepoint's flagship project is the Hook Lake Project, a joint venture with two of the largest uranium suppliers in the world, Cameco Corporation and Orano Canada Inc. The Hook Lake JV Project is on trend with recent high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit and encompasses its own Spitfire discovery (53.3% U3O8 over 1.3m including 10m interval of 10.3% U3O8). Together with its flagship project, the Company's projects stretch across approximately 175,000 hectares of claims throughout the Athabasca Basin. These claims host over 20 distinct and well-defined drill target areas with advanced geophysical surveys completed, and in some cases, have had first pass drilling performed.

For more information, please contact:

Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca

Disclosure regarding forward-looking statements

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

Not for Dissemination in the United States or through U.S. Newswire Services

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135326

News Provided by Newsfile via QuoteMedia

PTU:CA
TSXV:PTU

Purepoint Uranium


Keep reading...Show less
Purepoint Uranium Prepares for Follow-Up Drill Program at Red Willow Project

Purepoint Uranium Prepares for Follow-Up Drill Program at Red Willow Project

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") announced today the commencement of mobilization efforts at the 100%-owned Red Willow project within the eastern uranium mine district of the Athabasca Basin, Saskatchewan Canada. This past winter's drilling intersected uranium mineralization along 1.2 kilometres of strike length associated with the northern area of the Osprey Zone electromagnetic (EM) conductor.

"We are now following up on assays that confirm the presence of uranium mineralization over a distance of nearly a mile, suggesting that a broad mineralizing event occurred throughout this region," said Chris Frostad, President and CEO at Purepoint. "Last winter's drill program consistently returned anomalous uranium highlighted by RW22-06 that intersected 0.47% U3O8 over 0.9 metres and our final winter hole RW22-15 which encountered alteration and structure favourable to uranium deposition."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Defines Eight Drill Targets at 100% Owned Carson Lake and Russell South Projects

Purepoint Uranium Defines Eight Drill Targets at 100% Owned Carson Lake and Russell South Projects

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today released the interpreted results of its summer airborne gravitymagnetic survey over their 100% owned Carson Lake and Russell South Uranium Projects which lie on the eastern edge of the Athabasca Basin, Saskatchewan Canada.

"We are excited to add these new prospects to our pipeline of drill-ready projects and will be evaluating them for inclusion in our 2023 drill programs," said Scott Frostad, VP Exploration at Purepoint. "These targets are considered to be associated with major uranium finds along the eastern part of the Basin and the completion of the airborne geophysical surveying has provided a clear path to commence drilling."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Provides Update on Summer Exploration Programs

Purepoint Uranium Provides Update on Summer Exploration Programs

Purepoint Uranium Group Inc. (TSXV: PTU) ("Purepoint" or the "Company") today provided an update on the broad array of geophysical programs underway this summer. This week the company commenced a helicopter-borne versatile time domain electromagnetic (VTEM) survey across four of its projects, collectively referred to as the Tabbernor Block, all of which lie on the eastern edge of the Athabasca Basin, Saskatchewan Canada.

"Our summer programs have focused on the advancement of seven projects within our portfolio," said Chris Frostad, Purepoint's President and CEO. "In combination with existing exploration data, these surveys will advance our entire pipeline of highly prospective projects to a drill ready state."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Initiates ZTEM Survey at Hook Lake Joint Venture

Purepoint Uranium Initiates ZTEM Survey at Hook Lake Joint Venture

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today announced the commencement of a deep sensing Z-Axis Tipper Electromagnetic (ZTEM) airborne survey over the northern portion of the Carter Corridor at the Hook Lake Joint Venture; a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%), and Purepoint (21%). The Hook Lake Project lies on the southwestern edge of Saskatchewan's Athabasca Basin in the Patterson Uranium District, Saskatchewan, Canada and is adjacent to and on trend with high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit.

ZTEM technology, exclusive to Geotech Ltd., is used to measure the variations in naturally occurring electromagnetic (EM) fields produced by thunderstorms around the globe. The variations in the EM fields help detect the resistivity contrast in deeply buried rock structures that may have controlled uranium deposition.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Purepoint Uranium Group Inc. Announces Adoption of Omnibus Incentive Plan

Purepoint Uranium Group Inc. Announces Adoption of Omnibus Incentive Plan

Purepoint Uranium Group Inc. (TSXV: PTU) ("Purepoint" or the "Company") is pleased to announce that its proposed adoption of a new omnibus equity incentive compensation plan (the "Omnibus Plan") was approved by the Company's shareholders at its annual and special meeting of shareholders held on June 29, 2022 (the "Meeting"). The Omnibus Plan replaced the Company's existing stock option plan and includes a 10% "rolling" option plan permitting a maximum of 10% of the issued and outstanding common shares of the Company as at the date of any option grant to be reserved for option grants and a fixed plan permitting 36,888,943 common shares of the Company to be reserved for grant of restricted share units and performance share units. Please refer to the Company's management information circular dated May 13, 2022 which is available under the Company's profile at www.sedar.com for a copy and summary of the Omnibus Plan.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Dr. Rebecca Hunter Joins Forum Exploration Team; Gravity Survey Completed on Nunavut Uranium Project

Dr. Rebecca Hunter Joins Forum Exploration Team; Gravity Survey Completed on Nunavut Uranium Project

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "the Company") is pleased to announce that Dr. Rebecca Hunter has joined Forum as Senior Geologist. Dr. Hunter will bring her valuable experience as an economic geologist with a broad knowledge of uranium, base and precious metal deposit models to the Forum exploration team.

Rick Mazur, President & CEO stated, "With the Company's renewed focus on uranium exploration and its expansion into energy metals, Dr. Hunter brings a fresh perspective to the Company's portfolio of uranium properties in the Athabasca Basin and our copper, nickel and cobalt properties in Saskatchewan and Idaho. And of course, Rebecca will be advancing her former discoveries of uranium deposits in Nunavut when she was at Cameco, which are now held by Forum."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Skyharbour Begins Trading on the OTCQX in the United States

Skyharbour Begins Trading on the OTCQX in the United States

Skyharbour Resources Ltd.'s (TSX-V: SYH ) (OTCQ X : SYHBF ) (Frankfurt: SC1P ) (the "Company") is pleased to announce that OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced Skyharbour has qualified to trade on the OTCQX® Best Market. Skyharbour upgraded to OTCQX from the OTCQB® Venture Market. Skyharbour begins trading today on OTCQX under the symbol "SYHBF."

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
OTC Markets Group Welcomes Skyharbour Resources Ltd. to OTCQX

OTC Markets Group Welcomes Skyharbour Resources Ltd. to OTCQX

OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced Skyharbour Resources Ltd. (TSX-V: SYH; OTCQX: SYHBF), a Canadian uranium exploration company, has qualified to trade on the OTCQX® Best Market. Skyharbour Resources Ltd. upgraded to OTCQX from the OTCQB® Venture Market.

Skyharbour begins trading today on OTCQX under the symbol "SYHBF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
CanAlaska Announces Additional Uranium Intersections From Summer Drill Program

CanAlaska Announces Additional Uranium Intersections From Summer Drill Program

Controlling Structure and Graphitic Package Defined on New Discovery

Multiple Intersections of Elevated Radioactivity Below Unconformity

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Skyharbour Signs Option Agreement with Yellow Rocks Energy Ltd to Option the Wallee and Usam Island Uranium Projects, Saskatchewan

Skyharbour Signs Option Agreement with Yellow Rocks Energy Ltd to Option the Wallee and Usam Island Uranium Projects, Saskatchewan

Skyharbour Resources Ltd. 's (TSX-V: SYH ) (OTCQB: SYHBF ) (Frankfurt: SC1P ) ( "Skyharbour" o r the " Company " or the "Optionor" ) is pleased to announce that it has entered into an option agreement (the "Option Agreement" or the "Agreement") with Yellow Rocks Energy Ltd, a private Australian entity, ("Yellow Rocks" or the "Optionee") which provides Yellow Rocks an earn-in option to acquire up to 80% interest in the Wallee and Usam Island Uranium Properties located in the Wollaston Domain of Northern Saskatchewan, Canada (the "Properties"). The Properties contain twelve (12) mineral claims, comprising approximately 62,951 hectares.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Baselode Provides Interpretations of the Recently Released Uranium Assay Results

Baselode Provides Interpretations of the Recently Released Uranium Assay Results

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (" Baselode " or the " Company ") is pleased to provide a video presentation that details geologic interpretations of the recently released uranium assay results (see News Releases dated September 12 and September 20, 2022 ) from the ACKIO high-grade uranium discovery (" ACKIO "), Hook project, Athabasca Basin area (the " Athabasca "), northern Saskatchewan .

The video provides new geological cross-sections from ACKIO which detail the structures, folds and lithological boundaries that are believed to control mineralization, including potential cross-structures and a SW trending lithological contact that have yet to be tested with diamond drills.  The video also provides more context regarding the exploration holes drilled furthest to the southeast on ACKIO and supports the potential for mineralization to still be open in this direction.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×