05.06.2018

GoviEx Uranium Closes C$ 6 million Private Placement Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, CANADA – GoviEx Uranium Inc. (TSX
-V: GXU; OTCQB: GVXXF) (“GoviEx ” or “Company ”) today  announced that it has closed a private placement financing (the “Private Placement ”) of 35,674,911 units (“Units”) at a price of
C$0.17 per Unit, with each Unit consisting of one (1) Class A common share and one (1) Class A common share purchase warrant (a “Warrant”) for gross proceeds of C$6,064,734.87.
Each Warrant entitles the holder to purchase one Class A common share of the Company over a 36-month period at a price of US$0.21 until June5, 2019,US$0.24 until June 5, 2020, and US
$0.2 8 until June 5, 2021. The net proceeds from the Private Placement will be used to fund continued exploration and development activities on the Company’s projects, for working capital, and for general corporate purposes. A portion of the net proceeds from the Private Placement also may be used by the Company to provide a short-term loan in order to facilitate the completion of the share purchase agreement (“SPA”) between Toshiba Corporation (“Toshiba”) and a third party investor, which is a subject to the previously announced Termination Agreement and Mutual Release (the “Agreement”) between Toshiba and GoviEx. As previously announced on May 1, 2018, GoviEx has completed its payment obligations to Toshiba under the Agreement. All securities issued under this Private Placement will be subject to the customary four-month hold period and may not be traded before October 6, 2018. In addition, securities issued to subscribers in the United States will be subject to a hold period under the Securities Act of 1933 (the“1933 Act”) and can only be resold in strict compliance with the applicable exemptions from the registration requirements of the 1933 Act. GoviEx insiders subscribed for a total of C$ 10,200 or 60,000 units. The Company paid cash finders’ fees of C$42,866.75.
The Private Placement remains subject to the final acceptance of the TSX Venture Exchange.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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