Consolidated Uranium Announces Private Placement by Premier American Uranium Inc. for Proceeds of at least C$10.35 Million

Not for distribution to United States Newswire Services or for dissemination in the United States

TORONTO, July 05, 2023 (GLOBE NEWSWIRE) -- Consolidated Uranium Inc. (“CUR”, the “Company” or “Consolidated Uranium”) (TSXV: CUR) (OTCQX: CURUF) is pleased to announce that further to its press release on May 24, 2023 regarding the creation and planned spin-out (the “Spin-Out”) of Premier American Uranium Inc. (“PUR”), CUR has entered into an agreement with Red Cloud Securities Inc. to act as lead agent and sole bookrunner on behalf of a syndicate of investment dealers (collectively, the “Agents”) in connection with a fully marketed private placement (the “PUR Offering”) of a minimum of 5,750,000 subscription receipts of PUR (each, a “Subscription Receipt”) at a price of C$1.80 per Subscription Receipt (the “Offering Price”) for minimum gross proceeds of C$10,350,000. The Agents will have an option, exercisable in full or in part up to 48 hours prior to the closing of the PUR Offering, to sell up to an additional 833,334 Subscription Receipts at the Offering Price for additional gross proceeds of up to C$1,500,001. The PUR Offering is expected to include lead orders of at least C$2.0 million from each of Mega Uranium Ltd. and funds for which Sachem Cove Partners is the general partner.

Read more at globenewswire.com