ESO Announce Private Placement PDF Print E-mail

ESO BROKERED PRIVATE PLACEMENT

ESO Uranium Corp. (TSX-V: ESO), (the “Company” or “ESO”), announced a brokered private placement of up to (i) 6,666,666 flow-through units (“FT Unit”) to be issued at a price of $0.06 per FT Unit; and (ii) up to 32,000,000 non-flow-through (“NFT Units”) at a price of $0.05 per NFT Unit, subject to a maximum offering of 40,000,000 FT Units and NFT Units (the “offering”). FT Units and NFT Units are collectively referred to as “Units”.

Each FT Unit consists of one “flow-through” common share and one share purchase warrant, entitling the holder to purchase one non-flow-through common share at a price of $0.10 per share for a period of 60 months, subject to an exercise acceleration provision (a “Warrant”). Each NFT Unit consists of one non-flow-through common share and one Warrant.

The Company has retained MGI Securities Inc. as its exclusive agent (the “Agent”) in connection with the Offering. The Agent shall receive a cash commission equal to 10% of the gross proceeds received from the sale of the Units; an option to purchase NFT Units equal in number to 10% of the number of Units sold; and a cash commission equal to 5% of the gross proceeds received from the exercise of the Warrants. The private placement is subject to Exchange acceptance, and the securities shall be subject to a four (4) month hold period.

On behalf of the Board of Directors of ESO Uranium Corp.

“Anthony Harvey”

Chairman and Director

For corporate communications please contact:

Robert (Bob) Meister

ESO Uranium Corp.

Vancouver, BC

Phone: (604) 629-0293

Toll Free: 1-866-629-0293

Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Please refer to the ESO Uranium website for further and updated information.

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.

Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

Last Updated on Thursday, 01 April 2010 07:18
 
 
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