Uravan Completes Private Placement

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CALGARY, March 6, 2020 /CNW/ - Uravan Minerals Inc. ("Uravan" or the "Corporation") is pleased to announce that it has closed a non-brokered private placement of up to 5,000,000 units ("Units") at a price of $0.01 per Unit (the "Offering").

Each Unit consists of one common share of the Corporation ("Common Share") and one Common Share purchase warrant ("Warrant"). Each whole Warrant will expire 24 months from the closing date and will entitle the holder to acquire one Common Share of the Corporation at a price of $0.05 per Common Share.

Proceeds of the Offering will be used by Uravan for general and working capital purposes as it pursues strategic alternatives.

The securities issued pursuant to the Offering are subject to a four-month hold period under applicable laws.

This press release may contain forward looking statements including the use of proceeds of the Offering. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing.  These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable laws.

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

SOURCE Uravan Minerals Inc.

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