| ||November 20, 2009|
Closes Private Placement with Pinetree Resource Partnership
| ||November 20, 2009 -- Mesa Uranium Corp. (TSXV: MSA) ("Mesa" or the "Company") is pleased to announce it has closed the previously announced non brokered private placement of 1,000,000 units (the "Units") at a price of $0.20 per Unit for gross proceeds of $200,000 with Pinetree Resource Partnership ("Pinetree"). Each Unit consists of one common share in the capital of Mesa and one-half of one non-transferable common share purchase warrant (a "Warrant"). Each whole Warrant entitles Pinetree to purchase one additional common share (a "Warrant Share") in the capital of Mesa until November 20, 2011 at a price of $0.30 per Warrant Share. The securities issued under the private placement are subject to a four month hold period, expiring March 20, 2010. |
Proceeds from the private placement will be used for general working capital.
Mr. Foster Wilson, Mesa's CEO stated, "We are very pleased with the support of Pinetree Resource Partnership as one of Mesa's largest shareholders. Pinetree now holds 14.6% of the total issued and outstanding common shares of Mesa. We welcome Pinetree's involvement as we advance our exploration and development projects."
About Mesa Uranium
Mesa explores and develops mineral properties focused in the western United States. For further information please visit our website at www.mesauranium.com.
ON BEHALF OF THE BOARD OF
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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