Terra Uranium Secures AU$500 thousand for Amer Lake Uranium Acquisition

Terra Uranium Limited (ASX:T92) has successfully secured $500,000 through a placement at AUU$0.16 per share, aiming to advance the acquisition of the Amer Lake Uranium Project. The funds will also support general working capital needs. Notably, the Amer Lake project boasts a substantial uranium resource of 15.3 million pounds of U3O8.

The company intends to explore additional uranium opportunities to complement its core projects in Canada. Amer Lake, strategically located near the operational Amaruq gold project, offers access to essential infrastructure. The placement, led by Peak Asset Management, involves the issuance of 3,125,000 new shares at a premium to the last closing price. Terra Uranium's Executive Chairman, Andrew Vigar, expressed gratitude to investors and emphasized the company's commitment to ongoing projects while seizing new opportunities.

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