North Shore Uranium Announces $1.4 Million Private Placement

North Shore Uranium Ltd. has unveiled plans for a non-brokered private placement aiming to raise $1,400,000. The offering includes non-flow-through and flow-through units priced at $0.05 and $0.065 respectively. Each unit provides one share and half a share purchase warrant, with warrants allowing the purchase of an additional share at $0.10 over the next two years.

Proceeds will be directed towards acquiring a majority stake in the Rio Puerco uranium project in New Mexico, exploration activities in Saskatchewan and general corporate purposes. The acquisition depends on securing $750,000 in financing and other regulatory approvals.

The securities cannot be sold in the U.S. as they do not meet the registration requirements of the U.S. Securities Act. The placement is subject to customary regulatory clearances, and potential finder's fees may apply.