Star Uranium Announces Increase in Private Placement Tuesday January 2, 3:55 pm ET
SASKATOON, SASKATCHEWAN--(CCNMatthews - Jan. 2, 2007) - Rick Walker, President of Star Uranium Corp. (TSX VENTURE:SUV - News), announces that the Company's private placement of 1,923,077 flow through units announced on December 20, 2006 has been increased to 2,227,055 flow through units for total proceeds of $1,447,586.
The Company further announces that it will also be issuing up to 2,000,000 non-flow through units at a price of $0.65 per unit for total proceeds of up to $1,300,000. Each unit will consist of one non-flow through common share and one share purchase warrant entitling the holder to purchase one additional non-flow through common share at a price of $0.75 for a period of one year.
The funds raised by way of the private placement will be used for exploration of the Company's uranium properties and for general working capital purposes.