MYRIAD URANIUM CORP. (CSE: M) (“Myriad” or the “Company”) announces that it will be conducting a non-brokered private placement financing under which it will raise gross proceeds of up to $500,000 through an offering of units (each, a “Unit”) at a price of $0.25 per Unit. Each Unit will be comprised of one common share of the Company and one common share purchase warrant exercisable for an additional common share for 24 months at an exercise price of $0.30 per share. There may be insider participation in the financing, and the Company may pay the finder’s fees and may issue the finder’s warrants in connection with the financing. Securities issued under the financing will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The Company will use the proceeds of the financing for general working capital.
The Company also announces that it is extending the expiration date of an aggregate of 6,440,000 warrants (each, a “Warrant”) originally issued by the Company on March 10, 2021, pursuant to a non-brokered private placement. The Warrants are exercisable into common shares of the Company at an exercise price of $0.40 per share and currently have an expiry date of March 10, 2023. The Company is extending the expiry date of the Warrants by 18 months to September 10, 2024. All other terms and conditions of the Warrants, including the exercise price, remain the same. No action is required by the Warrant holders to give effect to the extension.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.Source: Yahoo Finance