Global Uranium Corp. Closes IC$1,000,000 Charity Flow With Donations

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NO MORE SUBSCRIPTIONS TO UNITED STATES NEWS WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES

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CALGARY, Alberta, Dec. 30, 2024 (GLOBE NEWSWIRE) — Global Uranium Corp. (CSE: GURN | OTCQB: GURFF | FRA: Q3J) (the “Company“) is pleased to announce that it has closed the flow of previously announced private placement charities (the “A donation”) of the ordinary shares of the capital of the Company (“Shares”) with net income of C$1,000,000. Pursuant to the Offering, the Company has issued 1,000,000 Shares which are intended to qualify as “intermediate shares” within the meaning of the Income Tax Act (Canada) (“Tax Law“).

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The proceeds from the sale of the Shares will be used to cover “Canadian exploration costs” for the Company’s projects, including the Northwest Athabasca Project, which are intended to qualify as “mining costs” as those terms are defined in. Tax Law.

The shares will be subject to a four-month rule and a one-day holding period that ends on May 1^St2025, which is four months and one day from the date of their issuance, in accordance with applicable securities law.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (“US Securities Act”) or any federal securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

About GLOBAL URANIUM CORP.

Global Uranium Corp. focuses on the exploration and development of uranium assets primarily in North America. The Company currently has significant uranium projects: the Wing Lake Property in the Mudjatik field in Northern Saskatchewan, Canada; Northwest Athabasca Joint Venture with Forum Energy Metals Corp. and NexGen Energy Ltd. the Northwest Athabasca region of Saskatchewan, Canada; and Great Divide Basin District Projects, Gas Hills District Projects, and Copper Mountain District Projects in Wyoming, USA.

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ON BEHALF OF THE BOARD OF DIRECTORS

Ungad Chadda
CEO
587-330-0045
[email protected]

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release include forward-looking information. These statements relate to future events or future performance. The use of any words such as “may”, “intend”, “expect”, “believe”, “like”, “estimated”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on current belief of the Company or in considering the effect and timing of such future events.

In particular, this press release contains forward-looking information related to, among other things, the Offering, including the expected use of proceeds and the Company’s expectation that the Shares will qualify as streaming shares as defined in the Tax Act. Various assumptions or factors are often used in drawing conclusions or making predictions or estimates based on forward-looking information, including assuming that the Company will use the proceeds of the Offering as expected (including dealing with Canadian exploration costs). Those assumptions and factors are based on information currently available to the Company. Although such statements are based on the reasonable judgment of the Company’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

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Forward-looking information involves known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by forward-looking information. Such factors include: the risk that the Company does not use the proceeds of the Offering as currently expected, including that the Company does not use the proceeds from the sale of the Shares to meet Canadian exploration costs; the risk that the Shares do not qualify as floating shares as defined in the Tax Act; risks inherent in mineral exploration and development, including risks related to obtaining necessary permits and approvals, changes in project specifications or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that mineral exploration results may not reflect the actual geology or mineralization of the project; that mineral exploration may not be successful or fail to achieve the results expected by the Company; operational risk; regulatory risks, including risks related to obtaining necessary licenses and permits; financial risk, liquidity and liquidity; subject and environmental risk; and risks associated with failure to obtain all necessary regulatory approvals. The forward-looking information contained in this release is made as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The above statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange has not reviewed, approved, or disapproved the content of this press release.‎

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