Mega Uranium Announces Completion of Private Placement

TORONTO, ONTARIO--(Marketwired - July 13, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Mega Uranium Ltd. (TSX:MGA) announces the closing today of the final tranche of its previously announced non-brokered private placement, pursuant to which Mega raised additional gross proceeds of $207,000 from the issuance and sale of 2,300,000 units, at a price of $0.09 per unit.

Each unit was comprised of one common share and one-half of one common share purchase warrant of Mega. Each whole warrant entitles the holder to purchase one common share of the company, at a price of $0.14 per share, until expiry on January 13, 2017.

A director of Mega purchased an aggregate of 300,000 units, representing approximately 13% of the total number of units sold today.

Mega paid cash finders' fees totaling $5,400 to a third party who assisted the company in respect of today's tranche.

The proceeds of the private placement will be used for working capital purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the 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 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ABOUT MEGA URANIUM

Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia and Canada. Further information on Mega can be found on the company's website at www.megauranium.com. 

Contact

Mega Uranium Ltd.
Richard Patricio
Chief Executive Officer and President
(416) 643-7630
info@megauranium.com
www.megauranium.com