TORONTO, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Premier American Uranium Inc. ("PUR", the "Company" or "Premier American Uranium") (TSXV:PUR) (OTCQB:PAUIF) is pleased to announce the closing of its previously announced "bought deal" private placement (the "Offering") for gross proceeds of approximately C$15,000,000, which includes the exercise in full of the underwriter's option. Pursuant to the Offering, the Company sold 16,666,666 units of the Company (the "Units") at a price of C$0.90 per Unit (the "Offering Price").
Each Unit consists of one common share of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder to purchase one Common Share at a price of C$1.26 at any time on or before February 3, 2029.
Red Cloud Securities Inc. ("Red Cloud"), as lead underwriter and sole bookrunner, together with Haywood Securities Inc. and Beacon Securities Limited (collectively, the "Underwriters"), acted as underwriters under the Offering. As consideration for their services, the Underwriters received aggregate cash fees of C$823,468.46 and 914,964 non-transferable common share purchase warrants (the "Broker Warrants"). Each Broker Warrant is exercisable to acquire one Common Share at the Offering Price at any time on or before February 3, 2029.
The Company intends to use the net proceeds of the Offering for the exploration and advancement of the Company's uranium projects in New Mexico and Wyoming as well as for working capital and general corporate purposes.
In accordance with National Instrument 45-106, Prospectus Exemptions ("NI 45-106"), a portion of the Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). The securities sold to purchasers resident in Canada under the Listed Issuer Financing Exemption are immediately freely tradeable in accordance with applicable Canadian securities legislation. A portion of the Units were also sold to purchasers outside of Canada pursuant to an exemption from the prospectus requirement in Canada available under OSC Rule 72-503 and, accordingly are not subject to a four-month hold period in Canada.
There is an amended and restated offering document dated January 22, 2026 related to the Offering and the use by the Company of the Listed Issuer Financing Exemption that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.premierur.com.
The closing of the Offering ...
