Athabasca Nuclear Corporation Amends Non-Brokered Financing
May 27 2014 - 9:00PM
Marketwired
Athabasca Nuclear Corporation Amends Non-Brokered Financing
CALGARY, ALBERTA--(Marketwired - May 27, 2014) - Athabasca
Nuclear Corporation (TSX-VENTURE:ASC) ("Athabasca Nuclear" or the
"Corporation") reports that reflective of the market-based pricing
for its listed common shares that the Corporation intends to amend
the Non-Brokered private placement previously announced April 25,
2014. The revised terms for the non-brokered private placement
offering will consist of up to 5,000,000 units (the "Units") at a
revised price of $0.07 per unit for revised gross proceeds of up to
$350,000 (the "Offering"). Each Unit will consist of one common
share of Athabasca Nuclear (the "Common Shares") and one Common
Share purchase warrant (the "Warrants"), with each Warrant
entitling the holder thereof to purchase one additional Common
Share at a revised exercise price of $0.105 per Common Share for a
period of 24 months from closing of the Offering.
Insider participation continues to be expected at 25% or greater
of the Offering.
The net proceeds of the Offering are expected to be used for
exploration and general corporate purposes.
The Units and underlying securities will be subject to a
four-month hold period from the date of issuance in accordance with
applicable securities laws. The Offering is subject to certain
conditions including the approval of the TSX Venture Exchange.
The Offering is now expected to close on or before June 6,
2014.
In connection with the Offering, Athabasca Nuclear may pay up to
a 7% finder's fee on the gross proceeds of the Offering. Finder's
fees will not be paid with respect to subscriptions resulting from
Insider participation.
Release of Interim
Financial Statements
The Corporation further reports that it has filed its financial
statements and MD&A for the period ended March 31, 2014, which
are now available on SEDAR at www.sedar.com.
About Athabasca Nuclear Corporation
Athabasca Nuclear Corporation (TSX-VENTURE:ASC) is a junior
uranium exploration company focused on the exploration and
advancement of its significant uranium portfolio in Saskatchewan,
Canada including the Preston Uranium Project, Patterson Lake East,
Botham Lake, Parry Lake, Martin River, Karras River and Spring
uranium projects. For more information on each of these projects,
please visit www.AthabascaNuclear.com.
Athabasca Nuclear is the Operator of the Western Athabasca
Syndicate, a group exploration effort of a 287,130 hectare (709,513
acre) package of uranium properties, known as the Preston Uranium
Project, which is the largest land position along the highly
prospective margin of the Western Athabasca Basin controlled by a
single group.
Signed,
Ryan Kalt, Chief Executive Officer
Forward-Looking
Statements
This news release contains forward-looking statements.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties. Actual results
may differ materially from those currently expected or forecast in
such statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Athabasca Nuclear CorporationRyan Kalt, LL.M., M.B.A.Chairman
and Chief Executive
Officer403-410-3848ryan.kalt@athabascanuclear.comwww.AthabascaNuclear.com
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