Pitchstone Closes Flow-Through Financing

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Tue, Dec 22, 2009
Uranium Company News
Post by Melissa Pistilli, Uranium Reporter

Pitchstone Exploration Ltd. reports that it has closed a non-brokered private placement of 1,453,900 “flow-through” common shares at $0.45 per share to raise gross proceeds of $654,255.

Pitchstone’s cash position is now approximately $5.3 million and the Company has 36.5 million common shares outstanding after the closing. The flow-through funds raised will be used for exploration on Pitchstone’s Canadian property interests, which will constitute Canadian Exploration Expenses (as defined in the Income Tax Act) and will be renounced for the 2009 taxation year.

To read full press release, click here.

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