Purepoint Uranium Group Inc. has closed a non-brokered private placement, raising gross proceeds of $1,006,611.64 to fund exploration across its uranium assets in Saskatchewan's Athabasca Basin.

The financing involved the issuance of 2,648,978 flow-through units at a price of $0.38 per unit. Each unit consists of one common share issued on a flow-through basis under the Income Tax Act and one common share purchase warrant. Each warrant allows the holder to purchase an additional common share at an exercise price of $0.50 for 12 months. In connection with the closing, Purepoint paid finder's fees consisting of $51,765.12 in cash and 136,224 non-transferable compensation warrants, which carry the same exercise price and term as the subscriber warrants. All securities issued under the placement are subject to a four-month hold period expiring on December 27, 2026.

Net proceeds from the offering are earmarked for the exploration and advancement of the company's projects within the Athabasca Basin. Alongside its wholly owned exploration properties, Purepoint operates several key assets through joint ventures, including the Hook Lake and Smart Lake projects with partners Cameco Corporation and Orano Canada Inc.

The company also operates the Dorado Project under a 50/50 joint venture with IsoEnergy Ltd., where laboratory assay results are currently pending for the summer drilling program. To expand its regional footprint, Purepoint staked four new mineral disposition claims near the project. Exploration across the wider Saskatchewan uranium district continues to draw activity, including CanAlaska Uranium Ltd. reporting assay results from its West McArthur project.

Read the full announcement: Purepoint Uranium Group Inc. Closes Private Placement