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The company claimed that the units and common shares were sold at a subscription price of USD2.40 per unit and share for gross proceeds of USD22.32m.
Each unit is comprised of one common share and one-half of one transferable common stock purchase warrant of the company.
Each such whole warrant is exercisable for one additional common share of the company at an exercise price of USD3.10 per warrant share for a period of two years from closing.
In addition, the company stated that a total of 4,283,515 units are being held in escrow pending receipt of subscription funds totalling approximately USD10.28m, which is expected to occur on or about 2 July 2009.
The company said that the net proceeds from the financing will be used for final permitting and construction of its Goliad ISR Uranium Project as well as for general corporate purposes.
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