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GoviEx Announces Completion of $8 Million Private Placement

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GoviEx Uranium Inc. (TSX-V: GXU) (OTCQB: GVXXF) is pleased to announce that it has completed a non-brokered private placement with the issue of 32,000,000 units at a price of C$0.25 per Unit for gross proceeds of C$8,000,000.

 

Each Unit consists of one Class A common share in the capital of the Company and one  transferable share purchase warrant. Each Warrant will entitle the holder to acquire on exercise one Common Share until January 21, 2023 at a price of US$0.30 per Warrant Share, subject to applicable adjustments.

 

All securities issued under the Private Placement are subject to a four-month hold period and may not be traded before May 22, 2021.

 

The net proceeds from the Private Placement will be used to fund continued exploration and development activities on the Company’s assets, working capital and for general corporate purposes.

 

The Company paid cash finder’s fees of approximately C$433,391 in relation to the Private Placement.

 

The Private Placement remains subject to the final Exchange acceptance.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

About GoviEx Uranium

 

GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx’s principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.

 

Posted January 22, 2021

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