Macusani Yellowcake Announces Private Placement to Homeland Uranium

TORONTO, ONTARIO, October 15 / MARKET WIRE/ -- Macusani Yellowcake Inc. (TSX VENTURE: YEL) ("Macusani") announced today that it has entered into an agreement with Homeland Uranium Inc. ("Homeland") for the purchase by Homeland of 7,619,047 units of Macusani at a price of $0.2625 per unit for proceeds to Macusani of approximately C$2 million. Each unit is comprised of one common share and 0.60 of a common share purchase warrant, with each whole warrant exercisable for a 24-month period to acquire an additional common share at a price of C$0.35 per share. Homeland is a Toronto-based unlisted public uranium exploration company with properties in the United States and Niger. Based on the 24,296,285 common shares of Macusani presently issued and outstanding, following completion of the placement Homeland would own approximately... [read full story]