UNOR Inc.
TSX VENTURE : UNI

UNOR Inc.

November 29, 2006 11:45 ET

UNOR Closes Flow-Through Financing

TORONTO, ONTARIO--(CCNMatthews - Nov. 29, 2006) - UNOR Inc. (TSX VENTURE:UNI) announces that it has today closed a private placement of 4,867,000 flow-through common shares at a price of $0.52 per flow-through share for gross proceeds of $2,530,840. Desjardins Securities Inc. acted as UNOR's agent in respect of the private placement.

The flow-through shares issued are subject to a four month hold period, which expires March 30, 2007. After giving effect to this share issuance, UNOR has 122,338,344 issued and outstanding common shares.

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 wholly-owned 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
    or
    UNOR Inc.
    Tom Devlin
    Secretary & Controller
    (416) 368-0114
    (416) 368-0198 (FAX)
    Website: www.unorinc.com