URANIUM 1.02% $24.70 uranium futures

purchase of 900000 lbs u3o8 about to begin

  1. 4,040 Posts.
    Uranium Bulls of 2007, can all remember what impact the sale of 270,000 P/lbs by a U.S. Government utility had on the price decline mid last year. So it will be very interesting to see what upward impact this up&coming 900,000 P/lb. purchase will have over the coming Months, " Interesting Times indeed ".


    THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.


    Uranium Participation Corporation (the "Company or Uranium Participation Corp.") (TSX:U) has today entered into an agreement with Cormark Securities Inc. on behalf of a syndicate of underwriters which consists of Cormark Securities Inc., CIBC World Markets Inc., Dundee Securities Corporation, Raymond James Ltd., Scotia Capital Inc., TD Securities Inc., and National Bank Financial Inc. (the "Underwriters") pursuant to which the Underwriters have agreed to buy and sell to the public 6,375,000 common shares of the Company at a price of $10.20 per common share, representing an aggregate amount of issue of approximately $65.0 million (the "Offering"). Closing is expected on or about March 19, 2008 and is subject to regulatory approval including that of the Toronto Stock Exchange.

    The Underwriters also have an option to purchase up to an additional 956,250 common shares at the issue price to cover over-allotments for a period of 30 days after the date of Closing.

    The net proceeds of the Offering will be used to fund the purchase of 900,000 lbs of U3O8.

    Cheers from grant64 :)
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