home Equities T.U: Reports Uranium Purchases and Estimated Net Asset Value at December 31, 2017

T.U: Reports Uranium Purchases and Estimated Net Asset Value at December 31, 2017

TORONTO, ONTARIO–(Marketwired – Jan. 9, 2018) – Uranium Participation Corporation (“UPC”) (TSX:U) reports its estimated net asset value at December 31, 2017 was CAD$506.0 million or CAD$3.82 per share. As at December 31, 2017, UPC’s uranium investment portfolio consisted of the following:

(in thousands of Canadian dollars, except quantity amounts) Quantity Fair Value
Investments in Uranium:
Uranium oxide in concentrates (“U3O8“) 11,430,024 lbs $ 340,550
Uranium hexafluoride (“UF6“) 1,903,471 KgU $ 161,184
$ 501,734
U3O8 fair value per pound:
– In Canadian dollars 1 $ 29.79
– In United States dollars $ 23.75
UF6 fair value1 per KgU:
– In Canadian dollars 1 $ 84.68
– In United States dollars $ 67.50
1 Fair values are month-end spot prices published by Ux Consulting Company, LLC, translated at the Bank of Canada’s month-end daily exchange rate of $1.2545.

On December 31, 2017, the common shares of UPC closed on the TSX at a value of CAD$4.23, which represents a 10.73% premium to the net asset value of CAD$3.82 per share.

On October 4, 2017, UPC issued 11,600,000 common shares for total gross proceeds of $40,600,000 in a bought-deal equity offering intended to fund purchases of uranium and for general corporate purposes.

During the month of December 2017, the Corporation completed the purchase of an additional 630,000 pounds U3O8 at an average cost of US$20.53 (CAD$26.32) per pound U3O8. In total, the Corporation has purchased 1,350,000 pounds U3O8at an average cost of US$20.40 (CAD$25.90) per pound U3O8 with the proceeds of the October 2017 financing.

About Uranium Participation Corporation

Uranium Participation Corporation is a company that invests substantially all of its assets in uranium oxide in concentrates (“U3O8“) and uranium hexafluoride (“UF6“) (collectively “uranium”), with the primary investment objective of achieving appreciation in the value of its uranium holdings through increases in the uranium price. UPC provides investors with a unique opportunity to gain exposure to the price of uranium without the resource or project risk associated with investing in a traditional mining company. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on Uranium Participation Corporation’s website at www.uraniumparticipation.com.

Source: Uranium Participation Corporation

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