TORONTO, June 23, 2016 /CNW/ - U3O8 Corp.
(TSX: UWE; OTCQX: UWEFF; SSE: UWECL), a
Canadian-based company focused on the development of deposits of
uranium and associated commodities in South America, reported that the nominees
listed in its Management Information Circular were elected as
directors of the company at its Annual and Special Meeting held on
June 22, 2016 (the "Meeting").
In addition, Davidson & Company LLP was re-appointed as U3O8
Corp.'s auditors.
A total of 120,067,043 common shares or 43.7% of the outstanding
common shares were voted in connection with the Meeting. Each
director nominee was elected by a substantial majority, as
follows:
Director
Nominee
|
Votes
For
|
Withheld
|
Keith
Barron
|
93,467,245
(99.7%)
|
264,981
(0.3%)
|
David
Constable
|
93,468,397
(99.7%)
|
263,829
(0.3%)
|
David
Franklin
|
93,405,155
(99.7%)
|
327,071
(0.3%)
|
Pablo
Marcet
|
93,435,641
(99.7%)
|
296,585
(0.3%)
|
John Ross
|
93,439,818
(99.7%)
|
292,408
(0.3%)
|
Richard
Spencer
|
93,436,093
(99.7%)
|
296,133
(0.3%)
|
Shareholders also voted 99.4% in favour of reappointing Davidson
& Company LLP as U3O8 Corp.'s auditors. The Board and
Management would like to express their thanks to the shareholders
for voting, and for their support.
About U3O8 Corp.
U3O8 Corp. is focused on exploration and development of deposits
of uranium and associated commodities in South America.
Potential by-products from uranium production include commodities
used in the energy storage industry – in the manufacture of
batteries - such as nickel, vanadium and phosphate. The
Company's mineral resources estimates were made in accordance with
National Instrument 43-101, and are contained in three
deposits:
- Laguna Salada Deposit, Argentina – a preliminary economic
assessment ("PEA") shows this near surface, free-digging uranium -
vanadium deposit has low production-cost potential;
- Berlin Deposit, Colombia – a PEA shows that Berlin also has low-cost uranium production
potential due to revenue that would be generated from by-products
of phosphate, vanadium, nickel, rare earths (yttrium and neodymium)
and other metals that occur within the deposit; and
- Kurupung Deposit, Guyana – a uranium resource has been
estimated in four veins within a uranium-zirconium vein system.
Resources have been estimated on four veins, while consistent
mineralization of the same type has been intersected in scout
drilling of an additional six veins, while yet other veins require
first-time exploration drilling.
Information on U3O8 Corp., its resources and technical reports
are available at www.u3o8corp.com and on SEDAR at
www.sedar.com. Follow U3O8 Corp. on Facebook:
www.facebook.com/u3o8corp, Twitter: www.twitter.com/u3o8corp
and Youtube: www.youtube.com/u3o8corp.
Forward-Looking Statements
Certain information in this release are forward-looking
statements with respect to the development plans and economic
potential of U3O8 Corp's current projects. Forward-looking
statements consist of statements that are not purely historical,
including statements regarding beliefs, plans, expectations or
intentions for the future, and include, but not limited to,
statements with respect to: (a) the low-cost development goal of
Laguna Salada, (b) the Laguna Salada and Berlin PEAs, and (c) the
potential of the Kurupung district in Guyana. Basis for such
assumptions include that: (i) actual results of our
exploration, resource goals, metallurgical testing, economic
studies and development activities will continue to be positive and
proceed as planned, and assumptions in the Laguna Salada and
Berlin PEAs prove to be accurate, (ii) requisite regulatory and
governmental approvals will be received on a timely basis on terms
acceptable to U3O8 Corp., and (iii) economic, political and
industry market conditions will be favourable. However, such
statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially
from those contained in the statements, including, but not limited
to: (1) that a mine will be achieved on the Laguna Salada Project,
the Berlin Deposit and other exploration projects, (2) that
beneficiation test work will continue to be favourable and results
from small scale metallurgical testing can be duplicated on a
larger scale, (3) the inherent uncertainties and speculative nature
associated with exploration results, resource estimates, potential
resource growth, future metallurgical test results, changes in
project parameters as plans evolve, (4) volatility of commodity
prices and market conditions for uranium; (5) dependence on
regulatory approvals and changes in legislation, environmental
compliance, community support and the political and economic
climate, (6) availability of future financing, and (7) exploration
risk and other factors beyond the control of U3O8 Corp. including
those factors set out in the "Risk Factors" in our Annual
Information Form available on SEDAR at www.sedar.com. Readers are
cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. U3O8 Corp.
assumes no obligation to update such information, except as may be
required by law. For more information on the above-noted PEAs,
refer to the September 18, 2014 technical report titled
"Preliminary Economic Assessment of the Laguna Salada
Uranium-Vanadium Deposit, Chubut Province, Argentina" and the
January 18, 2013 technical report titled "U3O8 Corp. Preliminary
Economic Assessment on the Berlin Deposit, Colombia."
SOURCE U3O8 Corp.