Uranium Participation Corporation (TSX:U) is pleased to announce the closing of its bought deal equity offering of 5,612,000 common shares of the Company at a price of $4.10 per Share, which included the full exercise of the over-allotment option granted to the underwriters, for gross proceeds of $23,009,200.
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 May 24, 2018).
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.
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We acknowledge the [financial] support of the Government of Canada.