TORONTO, Sept. 11, 2017 /CNW/ - U3O8 Corp.
(TSX: UWE), (OTCQB: UWEFF) ("U3O8 Corp." or the
"Company") reports that its consolidated common shares will start
trading at the open of the TSX and OTCQB markets on Monday September 11th, and that one of
the Company's directors has exercised out-of-the-money warrants to
contribute working capital to the Corporation.
Consolidated Common Shares of U3O8 Corp.
The common shares of the Corporation, after a consolidation of
20 old shares to one new share, will be available for trading on
the TSX and on the OTCQB platform in New York at the open of
these markets today, Monday September
11th, 2017. The Company's new share structure,
post consolidation is as follows:
Type of
Equity
|
Pre-Consolidation
|
Post-Consolidation
|
Issued &
Outstanding Shares
|
355,707,222
|
Up to
17,785,361*
|
Warrants
|
123,853,725
|
6,192,686
|
Options
|
15,445,000
|
772,250
|
Fully
Diluted
|
495,005,947
|
24,750,297
|
* The actual number of issued and outstanding shares will be
determined shortly, based on the number of shareholders with
accounts holding less than 1,000 U3O8 Corp. shares.
Shareholders with less than 1,000 U3O8 Corp. shares will be paid
out for their shares.
The CUSIP number for the Company's common stock is 903415800 and
the ISIN number is CA9034158001. The Company's symbol will be
unchanged: UWE on the TSX and UWEFF on the OTCQB platform.
A letter of transmittal, that provides all related details and
instructions to shareholders relating to the consolidation of the
stock, was mailed to shareholders in the latter part of August and
is available through the Company's profile on SEDAR, www.sedar.com
and on the Company's website www.u3o8corp.com.
Director Exercising Out-of-the-Money Warrants
Dr. Keith Barron has exercised
approximately 2.3 million warrants, priced at $0.035, so as to provide $80,500 in working capital for the Corporation
while minimizing dilution to other shareholders.
About U3O8 Corp.
U3O8 Corp. is focused on exploration and development of deposits
of uranium and battery commodities in South America. Battery
commodities that occur with uranium resources include vanadium,
nickel, zinc 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 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
This news release includes
certain "forward looking statements" related with the development
plans, economic potential and growth targets of U3O8 Corp's
projects. Forward-looking statements consist of statements that are
not purely historical, including statements regarding beliefs,
plans, expectations or intensions for the future, and include, but
not limited to, statements with respect to: (a) the low-cost and
near-term development of Laguna Salada, (b) the Laguna Salada and
Berlin PEAs, (c) the potential of the Kurupung district in Guyana,
(d) impact of the U- pgradeTM process on expected capital and
operating expenditures, and (e) the price and market for uranium.
These statements are based on assumptions, including 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) a joint
venture will be formed with the provincial petroleum and mining
company on the Argentina project, (iii) requisite regulatory and
governmental approvals will be received on a timely basis on terms
acceptable to U3O8 Corp., (iv) economic, political and industry
market conditions will be favourable, and (v) financial markets and
the market for uranium will improve for junior resource
companies in the short-term. Such statements are subject to risks
and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in such
statements, including, but not limited to: (1) changes in general
economic and financial market conditions, (2) changes in demand and
prices for minerals, (3) the Company's ability to establish
appropriate joint venture partnerships, (4) litigation, regulatory,
and legislative developments, dependence on regulatory approvals,
and changes in environmental compliance requirements, community
support and the political and economic climate, (5) 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, (6) competitive developments, (7) availability of future
financing, (8) exploration risks, 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.