VANCOUVER, April 20 /CNW/ - Due to the agreement that Global Uranium has recently entered into with Concentric Energy Corp., the board of directors has unanimously decided to cancel the previously announced non-brokered private placement of up to 1.6 million units at a price of 15 cents per unit for gross proceeds of up to $240,000.
Global Uranium's board has just completed a visit to the property on which it has acquired the right to incrementally earn up to a 70-per-cent interest in and to 280 contiguous, unpatented lode mining claims located in Yavapai county, west-central Arizona, covering approximately 5,780 acres of mineral prospective lands.
The company plans to work toward the completion of a 43-101 on the property in the next 30 days. In accordance with Global Uranium Corp.'s stock option plan, it has granted to certain of its officers, directors and consultants incentive stock options to purchase up to a total of 700,000 common shares exercisable on or before April 20, 2015, at a price of 60 cents per share.
ON BEHALF OF THE BOARD
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or accuracy of this news release.
Global Uranium Corp. is an early stage uranium exploration and development company focusing on properties located in the south-western United States with special emphasis on Arizona and Nevada. The Company's strategy is to maximize shareholder value through successful exploration and development of its properties.
SOURCE GLOBAL URANIUM CORPORATION
For further information: For further information: Neil Linder, CEO, Director, Phone: (760) 610-9297