11:35 AM EST - Ucore Uranium Inc. : announced that it has arranged a non-brokered private placement of up to 15.0 million units at $0.20 per unit, for maximum gross proceeds of $3 million. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant gives the holder the right to purchase one common share at an exercise price of $0.30 for a period of 24 months. The net proceeds of the financing will be used to advance exploration on the Company's properties, focusing on the Company's Bokan Mountain property, and for general working capital. The financing is scheduled to close on or about July 17, 2009. The Company intends to pay a finder's fee of 8.0% of the gross proceeds and issue finder's warrants equal to 10.0% of the aggregate number of units issued by the Company pursuant to the financing. Each finder's warrant gives the holder the right to purchase one common share at an exercise price of $0.26 for a period of 24 months from the Closing Date, in accordance with the policies of the TSX-V. Ucore Uranium Inc.
shares V.UCU are trading up $0.02 at $0.27.
