News
TRIBUNE URANIUM CLOSES $3,400,000 PRIVATE PLACEMENT
June 29, 2007
Vancouver, B.C. – Tribune Uranium Corp. (formerly “Tribune Resources Corp.”) (the “Company”) (TSX-V: TCB ) is pleased to announce, further to its news release of May 9, 2007 and as amended on May 16, 2007, the Company has closed its $3.4 million private placement by means of issuing 2 million non-flow through units, at a price of $1.10 per unit and 1 million flow-through units at a price of $1.20 per unit
Each non-flow-through unit consists of one common share of the Company, and one-half of one warrant. Each whole warrant will entitle the holder to acquire one common share of the Company at a price of $1.40 per share for a period of 12 months from the completion of the private placement.
Each flow-through unit consists of one flow-through common share of the Company and one half of one warrant. Each whole flow-through warrant will entitle the holder to acquire one non-flow-through common share at an exercise price of $1.40 exercisable for a period of 12 months from the completion of the private placement.
There is a 4 month hold on the units, including shares underlying the warrants, expiring on October 30, 2007. A finder’s fee of 8% of proceeds raised is to be paid on the Private Placement for a total finder’s fee of $272,000.
If the closing price of the Company’s common shares is $2.00 or more for a period of at least 20 consecutive trading days, the Company can execute a forced conversion of the warrants upon giving 30 days notice of its intention to do so.
Further to the Company’s news release of May 9, the Company has settled the terms of its definitive option agreement with Strathmore Minerals Corp. (“Strathmore”) and expects to execute it in mid-July, shortly after Strathmore completes its corporate reorganization.
Tribune Uranium Corp. is a Canadian exploration company committed to the acquisition of advanced stage, drill ready, uranium projects. Led by an experienced management team, the Company plans to aggressively explore its current portfolio of highly prospective uranium properties. The Company headquarters are in Vancouver, BC and shares are traded on the TSX Venture Exchange (TCB) and the Frankfurt Exchange (S8QA).
To find out more about Tribune Uranium Corp., please contact Graham Harris, Chairman and CEO, at 604-662-8183 or email investor@tribuneuranium.com. You may also visit our website at www.tribuneuranium.com
TRIBUNE URANIUM CORP.
“Graham Harris”
Graham Harris
Chairman and CEO
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.
Forward-looking statements:
This news release contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that Tribune Uranium Corp expects to occur, are forward looking statements.
Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Tribune Uranium Corp 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 may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Tribune Uranium Corp’s management on the date the statements are made. Tribune Uranium Corp undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
