RPT Uranium Corp.
TSX VENTURE : RPT

RPT Uranium Corp.

May 04, 2007 15:16 ET

RPT Announces $8 Million Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 4, 2007) -

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Hikmet Akin, President of RPT Uranium Corp. (TSX VENTURE:RPT) (the "Company"), announces that the Company intends to proceed with a non-brokered private placement financing of up to 20 million units (the "Units") at a price of $0.40, for total gross proceeds of up to $8 million. Each Unit will consist of one common share of the Company and one transferable share purchase warrant (a "Warrant"). Each Warrant shall be exercisable into one additional common share of the Company for one year following the closing date at the exercise price of $0.60. Finders' fees will be payable on all or a substantial portion of the private placement in amounts permitted by the TSX Venture Exchange in accordance with its policies.

Completion of the financing is subject to receipt of all necessary regulatory approvals. All securities issued pursuant to the offering will be subject to a four month hold period commencing from the date of closing.

Net proceeds of the financing will be used to fund exploration on the Company's uranium properties in the Sibley Basin, Ontario and the Athabasca Basin, Saskatchewan and for general working capital.

Hikmet Akin, President, RPT Uranium Corp.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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