Uranium Participation Corporation Reports Uranium Purchase and Net Asset Value at January 31, 2017
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 02/07/17 -- Uranium Participation Corporation ("UPC") (TSX: U) reports its estimated net asset value at January 31, 2017 was CAD$497.7 million or CAD$4.12 per share. As at January 31, 2017, UPC's investment portfolio consisted of the following:
On January 31, 2017, the common shares of UPC closed on the TSX at a value of CAD$4.20, which represents a 1.94% premium to the net asset value per share of CAD$4.12.
Uranium Purchase
In January 2017, UPC entered into an agreement to purchase 50,000 pounds U3O8 at a price of US$22.75 per pound. The purchase was funded by the proceeds received by UPC in late October 2016, on the completion of an equity offering resulting in the issuance of 5,200,000 common shares for gross proceeds of $20,020,000. As at January 31, 2017, the delivery has been received and is included in UPC's investments in uranium.
About Uranium Participation Corporation
Uranium Participation Corporation is a company that invests substantially all of its assets in uranium oxide in concentrates ("U3O8") and uranium hexafluoride ("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 and on Uranium Participation Corporation's website at .
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 11, 2016, a copy of which is available at .
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.
Contacts:
David Cates
President & Chief Executive Officer
(416) 979-1991 Ext. 362
Mac McDonald
Chief Financial Officer
(416) 979-1991 Ext. 242
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Datum: 07.02.2017 - 22:30 Uhr
Sprache: Deutsch
News-ID 522584
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contact information:
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TORONTO, ONTARIO
Kategorie:
Mining & Metals
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