Uranium Participation Reports Net Assets of C$592.6-million

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:

 

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.

Click here to view the full announcement