Uranium company, Purepoint, completes $6 million private placement in its final round.

Purepoint Uranium Group Inc. Completes Private Placement, Raises $5.5 Million

Purepoint Uranium Group Inc., a focused explorer with a dynamic portfolio of advanced projects within the Athabasca Basin in Canada, has announced the completion of a private placement. The company managed to raise $5,544,099.65.

The private placement consisted of 5,768,824 Saskatchewan charity flow-through units and 3,041,295 National charity flow-through units. In connection with the private placement, IsoEnergy Ltd. acquired 2,531,646 Saskatchewan charity flow-through units.

Following completion of the private placement, IsoEnergy owns an aggregate of 9,864,980 Common Shares and 5,864,980 Warrants, representing approximately 12.57% of Purepoint's issued and outstanding Common Shares on a non-diluted basis, and approximately 18.65% on a partially diluted basis.

Each unit consists of one common share and one common share purchase warrant. Each warrant entitles its holder to purchase one common share at an exercise price of $0.50 per share for a period of 24 months from the date of issue. The securities issued in connection with the private placement are subject to a four-month hold period pursuant to applicable securities laws.

The proceeds of the private placement will be used for the exploration and advancement of the Company's projects in the Athabasca Basin, Saskatchewan. However, it's important to note that the risk factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that the Company may not use the proceeds of the Private Placement as anticipated, the risk that the Company may not receive final regulatory approval with respect to the Private Placement, the risk relating to the tax treatment of flow-through shares, the risk relating to the actual results of current exploration activities, fluctuating uranium prices, possibility of equipment breakdowns and delays, exploration cost overruns, general economic, market or business conditions, regulatory changes, and other risks detailed from time to time in the filings made by the Company with securities regulators.

The press release is marked as "For Immediate Release - Not for Dissemination in the United States or through U.S. Newswire Services" and provides a link to the source version of the press release: https://www.newsfilecorp.com/release/265309. The news release is distributed by Newsfile via QuoteMedia.

For more information about Purepoint Uranium Group Inc., please visit their new website: https://purepoint.ca, follow them on Twitter: @PurepointU3O8, or connect with them on LinkedIn: @Purepoint-Uranium. The contact information for Chris Frostad, President & CEO of Purepoint Uranium Group Inc., is provided: Phone: (416) 603-8368, Email: [email protected].

Uranium company, Purepoint, completes $6 million private placement in its final round.