November 20, 2006 14:02 ET

UNOR Announces Financing

TORONTO, ONTARIO--(CCNMatthews - Nov. 20, 2006) - UNOR Inc. (TSX VENTURE:UNI), subject to regulatory approval, has arranged with Desjardins Securities Inc. a private placement of up to 4.81 million flow-through common shares at a price of $0.52 per flow-through share for total gross proceeds of up to $2.5 million.

UNOR will pay an agent fee equal to 7% of the gross proceeds received. These flow-through shares are subject to the applicable statutory hold period of four months. The private placement is expected to close on or about November 29th, 2006.

The proceeds of this private placement will be used by UNOR to fund part of its uranium exploration program on 1,144,000 acres in western Nunavut, Canada which include its whollyowned 226 mineral claims, its UNAD Joint Venture 41 mineral claims and its Cameco Optioned 205 mineral claims.

UNOR Inc. was incorporated in 1996 in Ontario as a uranium exploration and development company. In June 2006, Cameco Corporation acquired 19.5% of UNOR for its uranium exploration focus and expertise in western Nunavut.

The TSX Venture Exchange has neither approved nor disapproved the contents of this release.

Contact Information

  • UNOR Inc.
    George P. Bell
    President & CEO
    (416) 368-0114
    UNOR Inc.
    Tom Devlin
    Secretary & Controller
    (416) 368-0114
    (416) 368-0198 (FAX)