Le Lézard
Classified in: Mining industry
Subject: OFR

Uranium Participation Corporation Completes $40.6 Million Bought Deal Financing



/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./

TORONTO, Oct. 4, 2017 /CNW/ - Uranium Participation Corporation (TSX:U) (the "Company" or "UPC") is pleased to announce the closing of its bought deal equity offering of 11,600,000 common shares (the "Shares") of the Company at a price of $3.50 per Share, which included the full exercise of the over-allotment option granted to the underwriters, for gross proceeds of $40,600,000.

The offering was underwritten by a syndicate of underwriters co-led by Cormark Securities Inc. and Cantor Fitzgerald Canada Corporation, as co-bookrunners, and included TD Securities Inc. and BMO Nesbitt Burns Inc.  

The proceeds of the offering will be used by the Company to fund future purchases of uranium oxide in concentrates ("U3O8") and/or uranium hexafluoride ("UF6") and for general corporate purposes (as more fully described in the prospectus supplement dated September 27, 2017).

This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

About Uranium Participation Corporation

Uranium Participation Corporation is a company that invests substantially all of its assets in U3O8 and UF6 (collectively "uranium"), with the primary investment objective of achieving appreciation in the value of its uranium holdings through increases in the uranium price. UPC provides investors with a unique opportunity to gain exposure to the price of uranium without the resource or project risk associated with investing in a traditional mining company. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on Uranium Participation Corporation's website at www.uraniumparticipation.com.

Caution Regarding Forward-Looking Information

This press release contains certain forward-looking statements and forward-looking information that are based on the Company's current internal expectations, estimates, projections, assumptions and beliefs.  Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intent", "estimate", "anticipate", "plan", "should", "believe" or "continue" or the negative thereof or variations thereon or similar terminology and include statements with respect to the use of proceeds for the Offering and the anticipated completion of uranium purchases. 

By their very nature, forward-looking statements involve numerous factors, assumptions and estimates. A variety of factors, many of which are beyond the control of the Company, may cause actual results to differ materially from the expectations expressed in the forward-looking statement. These factors include, but are not limited to, changes in commodity prices and foreign exchange as well as the risk that the Company will not be successful in completing the purchase of additional U3O8 and/or UF6 on terms satisfactory to the Company. For a description of the principal risks of the Company, see "Risk Factors" in the Company's Annual Information Form dated May 16, 2017, a copy of which is available at www.sedar.com.

These and other factors should be considered carefully, and readers are cautioned not to place undue reliance on these forward-looking statements. Although management reviews the reasonableness of its assumptions and estimates, unusual and unanticipated events may occur which render them inaccurate. Under such circumstances, future performance may differ materially from those expressed or implied by the forward-looking statements. Except where required under applicable securities legislation, the Company does not undertake to update any forward-looking information statement.

SOURCE Uranium Participation Corporation


These press releases may also interest you

at 08:03
Aben Resources Ltd.   (the "Company") is pleased to announce the Company has increased its land position at its 4,716-hectare Chico Gold Project located 125 kilometres east of La Ronge, Saskatchewan and 40 kilometres south of SSR Mining's (formerly...

at 08:00
Wheaton Precious Metals Corp. ("Wheaton" or the "Company"), announced today that it acquired 6,153,846 subscription receipts (the "Subscription Receipts") of Desert Star Holdings Corp., a wholly owned subsidiary of Desert Star Resources Ltd. ("Desert...

at 08:00
Far below the Nevada desert, past ancient mine shafts and rock-strewn caverns, there could be a fortune waiting to be made by one small company. A fortune in silver. Included in today's commentary: Endeavor Silver , Pretium Resources , Teck Resources...

at 08:00
Advantage Lithium Corp. (the "Company" or "Advantage Lithium") ? announces the granting of stock options to an officer of the Company for the purchase of 250,000 common shares, at a price of $1.07 per share, for a period of five years. About...

at 08:00
NxStage Medical, Inc. , a leading medical technology company focused on advancing renal care, celebrates the achievement of over five thousand patients having received a kidney transplantation after performing more frequent home hemodialysis with...

at 07:56
A global infrastructure revolution is required to support mass diffusion of Electric Vehicles (EVs). The buildout of this infrastructure will drive growth in global copper demand, as it is required both for the construction of electric vehicle...




News published on 4 october 2017 at 09:19 and distributed by: