Uranium Participation Corporation
TSX : U

Uranium Participation Corporation

November 17, 2005 09:35 ET

Uranium Participation Corporation-New Issue

TORONTO, ONTARIO--(CCNMatthews - Nov. 17, 2005) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Uranium Participation Corporation (the "Company") (TSX:U) has today entered into an agreement with a syndicate of underwriters led by Sprott Securities Inc., and which includes Dundee Securities Corporation, CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc. pursuant to which the underwriters have agreed to buy and sell to the public 7,500,000 Common Shares from the Company at a price of $6.00 per Common Share, representing an aggregate amount of issue of $45,000,000. Closing is expected on or about December 14, 2005.

The underwriters have the right to increase the size of the issue by up to a maximum of $15 million. The underwriters also have an option to purchase up to an additional $4,500,000 to cover over-allotment for a period of 30 days after the date of Closing.

The Company will invest at least 85% of the gross proceeds of the offering in uranium oxide concentrates ("U3O8").

These securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.

About Uranium Participation Corporation

Uranium Participation Corporation is an investment holding company created to invest substantially all of its assets in uranium oxide in concentrates (U3O8), with the primary investment objective of achieving appreciation on the value of its U3O8 holdings. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on Uranium Participation Corporation's website at www.uraniumpartipation.com.

Contact Information

  • Uranium Participation Corporation
    E. Peter Farmer
    President
    (416) 979-1991 Ext. 231
    or
    Uranium Participation Corporation
    James Anderson
    Chief Financial Officer
    (416) 979-1991 Ext. 372