Ucore Uranium Inc.
TSX VENTURE : UCU

Ucore Uranium Inc.

November 23, 2006 12:54 ET

Ucore Uranium Announces Increase to Private Placement

CALGARY, ALBERTA--(CCNMatthews - Nov. 23, 2006) - NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA US NEWSWIRE SERVICES

Ucore Uranium Inc. (the "Company") (TSX VENTURE:UCU) wishes to announce that further to its press release of November 21, 2006, the Company has increased the flow-through share portion of the brokered private placement, co-led by Pacific International Securities Inc. and Canaccord Adams, and including Jones, Gable & Company Limited (the "Agents"). The Company will issue up to an additional 1,080,000 flow-through shares (the "FT Share") for a total of up to 3,580,000 FT Shares including the exercise of the over-allotment option, to raise up to a total of $3,401,000 in flow-through proceeds.

All other terms of the offering will remain the same.

The Offering is subject to regulatory approval and subject to TSX Venture Exchange acceptance for filing. All securities issued will be subject to a four-month hold period from the Offering's closing date.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

Contact Information

  • Ucore Uranium Inc.
    Mr. Daniel Whittaker
    President and Chief Executive Officer
    902-482-5214
    902-492-0197 (FAX)