Ucore Uranium Announces $4.0 Million Private Placement
Date: May 27, 2008
Symbol: TSX-V: UCU
Ucore Uranium Inc. (the “Company”) is pleased to announce that, subject to regulatory approval, it has arranged a non-brokered private placement of up to 10 million units of $0.40 per unit, for maximum total proceeds of $4,000,000. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant gives the holder the right to purchase one additional common share for one year. The price of exercise of the warrant shall be $0.55. The proceeds of the financing will be used to carry out exploration on the company’s properties and for general working capital.
The Company intends to pay a finder’s fee of 7.0% of the total value of units purchased in the form of 50% cash and 50% common shares of the Company at a deemed value of $0.42 each to eligible persons under TSX-V policies.
For further information, please contact Mr. Jim McKenzie, President and Chief Executive Officer of Ucore Uranium Inc. at:
Telephone: (604) 484-9402
Fax: (604) 484-9407
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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.