Northern Uranium to raise $243k in options issue

West Perth-based explorer Northern Uranium Ltd has announced plans to raise $243,250 through an entitlements issue, raising working capital funds for the company.

The capital raising, through the issue of 24.3 million options at one cent each, will be partially used to fund exploration activities on the company's Gardiner-Tanami Super Project.

The offer is not underwritten and no oversubscriptions will be accepted.

The offer will open on April 19 to close May 7.