Purepoint Uranium Closes First Tranche of Private Placement

Core Viewpoint - Purepoint Uranium Group Inc. has successfully closed the first tranche of its private placement, raising a total of $456,038.14 through the issuance of flow-through units, which will be used for exploration in the Athabasca Basin [1][4]. Group 1: Private Placement Details - The first tranche consisted of 772,946 flow-through units priced at $0.59 each, with each unit including one common share and one common share purchase warrant [1]. - Each warrant allows the holder to purchase one common share at an exercise price of $0.50 for 24 months from the issuance date [1]. - The second tranche of the private placement is expected to close around September 5, 2025, and is fully subscribed [2]. Group 2: Financial Arrangements - In connection with the first tranche, the company paid finders' fees totaling $27,362.29 in cash and issued 46,377 non-transferable compensation warrants [3]. - Each compensation warrant also allows the purchase of one common share at an exercise price of $0.50 for 24 months from the closing date [3]. Group 3: Use of Proceeds - The net proceeds from the private placement will be allocated towards the exploration and advancement of the company's projects in the Athabasca Basin, Saskatchewan [4]. Group 4: Company Overview - Purepoint Uranium Group Inc. is focused on uranium exploration with a portfolio of advanced projects in the Athabasca Basin, collaborating with industry leaders such as Cameco Corporation and Orano Canada Inc. [5]. - The company also holds a VHMS project strategically located adjacent to Foran Corporation's McIlvena Bay project [6].