| ||October 26, 2012|
Powertech Announces Private Placement
| ||POWERTECH URANIUM CORP. ("Powertech" or the "Company") (Vancouver, B.C.) is pleased to announce that, subject to regulatory approval, it has arranged a non-brokered private placement financing (the "Financing") of up to 10 million units (each, a "Unit") at a price of $0.10 per Unit for gross proceeds of up to $1 million. Each Unit consists of one common share of the Company (each, a "Share") and one-half of one share purchase warrant (each, a "Warrant"). One whole Warrant entitles the holder thereof to purchase one additional Share of the Company at a price of $0.20 per Share for a period of one year from closing of the Financing.|
The proceeds of Financing will be used for working capital and to continue the permitting process for Dewey Burdock.
The Company will not be paying any finders' fees with respect to the Financing.
POWERTECH URANIUM CORP.
Per: "Richard F. Clement"
Richard F. Clement Jr.,
For further information, please contact:
Thomas A. Doyle, CFO, VP Finance
Phone : (604) 685-9181
Email : email@example.com
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