| ||July 23, 2008|
Mesa Announces Closing of Private Placement
| ||Mesa Uranium Corp. (TSXV: MZU) ("Mesa" or the "Company") is pleased to announce it has closed a non brokered private placement (the "Offering") with Foster Wilson, the President, Chief Executive Officer and a director of Mesa, of 1,818,181 units (the "Units") at a price of $0.11 per Unit raising aggregate gross proceeds to Mesa of $200,000. Each Unit consists of one common share (a "Share") in the capital of Mesa and one-half of one non-transferable common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder thereof to purchase one additional common share (a "Warrant Share") in the capital of Mesa for a period of 18 months following the closing of the Offering at a price of $0.15 per Warrant Share. The securities issued under the Offering will be subject to a four month hold period under applicable Canadian securities laws. |
Mr. Wilson has become a "control person" (as defined in the Securities Act (British Columbia)) of Mesa by virtue of purchasing the Units as he now holds an aggregate of approximately 23% of the issued and outstanding common shares of Mesa. The transaction is considered a "related party transaction" under securities legislation as Mr. Wilson is a director, officer and holds over 10% of Mesa's issued and outstanding common shares.
Proceeds from the Offerings will be used to fund continuing exploration and for general working capital.
About Mesa Uranium
Mesa is a uranium exploration company focused on exploration in proven uranium mining districts in the western United States. Mesa has 100% ownership of 46 square miles of uranium exploration lands in the Lisbon Valley Mining District in Utah and the Arizona Strip Mining District in northern Arizona. For further information please visit our website at www.mesauranium.com.
ON BEHALF OF THE BOARD
MESA URANIUM CORP.
(signed) Foster Wilson, President and CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com
For further information call:
Susan Wilson, Corporate Communications, 604-688-7508
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
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