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Uranium Participation Reports Net Assets of C$592.6-million
Aug. 03, 2018 06:00AM PST
Energy InvestingIn the announcement the Toronto-based uranium producer estimated net assets to be C592.6 million or C$4.29 per share.
Uranium Participation Corporation (TSX:U) has released a report outlining it estimated net asset value as of July 31, 2018. In the announcement the Toronto-based uranium producer estimated net assets to be C592.6 million or C$4.29 per share.
As quoted from the press release:
As at July 31, 2018, UPC’s uranium investment portfolio consisted of the following:
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On the last trading day of July 2018, the common shares of UPC closed on the TSX at a value of C$4.42, which represents a 3.03 percent premium to the net asset value of C$4.29 per share.
On May 22, 2018, UPC announced a bought-deal equity offering of 4,880,000 common shares, at a price of C$4.10 per share, for gross proceeds of C$20,008,000, with an overallotment option of an additional 732,000 common shares at C$4.10 per share. The offering was completed on May 31, 2018 and the overallotment option was fully exercised. Accordingly, UPC issued 5,612,000 common shares for total gross proceeds of C$23,009,200. The proceeds of the offering are being used by UPC to fund purchases of U3O8 and/or UF6 and for general corporate purposes.