RPT Uranium Corp.

RPT Uranium Corp.

May 07, 2007 16:31 ET

RPT Uranium Announces Brokered Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 7, 2007) -


Hikmet Akin, President of RPT Uranium Corp. (TSX VENTURE:RPT) (the "Company"), announces that the Company has entered into a letter of agreement with Canaccord Capital Corporation (the "Agent"), to raise up to $4,000,000 (the "Offering"). The Offering consists of up to 10,000,000 units at $0.40 per unit (the "Units"). In addition, the Agent may solicit subscriptions for additional proceeds of $2,000,000 by offering up to 5,000,000 additional Units. The Agent will advise of the exercise of the over-allotment option 48 hours prior to closing of the Offering.

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.

Net proceeds of the Offering 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.

The Offering is scheduled to close on or about May 28, 2007, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. All securities issued pursuant to this offering will be subject to a four month hold period commencing from the date of closing.

Hikmet Akin, President

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

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

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