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ESO Uranium Completes $4.7 Million Flow-Through Financing |
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Vancouver, Canada, January 3, 2006: ESO Uranium Corp. (ESO:TSX-V) ("the Company") announced that on December 30, 2005, it completed the final tranche of an offering in which a total of 5,231,886 flow-through units (the "Offering") were issued at a price of $0.90 per unit. Each unit (a "Unit") consisted of one flow-through common share and one share purchase warrant. Two warrants entitle the holder to purchase one non-flow-through common share at a price of $1.50 for a period of 18 months from closing.
The Offering was non-brokered, however the Company paid a 7% finders fee with respect to certain subscriptions from general working capital, and has issued 51,196 Finders Warrants. Each Finders Warrant entitles the holder to acquire one non-flow-through common share at a price of $1.50 for a period of 18 months from closing.
The proceeds of the Offering will be used to incur qualifying exploration expenses on the Company's uranium properties located in the Athabasca Basin in northern Saskatchewan and its Mikwam gold property located in northern Ontario. All securities issued in connection with the offering are subject to a four month hold period.
On behalf of the Board of Directors of ESO Uranium Corp.
"Larry D Whitehead"
Larry D. Whitehead, Director and CFO
For corporate communications please contact Investor Relations, at ESO Uranium Corp., phone: (604) 629-0293, email:
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web site: www.esouranium.com
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management. Statements contained in this news release that are not historical facts are forward looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filing with the Securities and Exchange Commission.
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