Uranium Week: Investment Vehicle Concludes Raising

As the uranium spot price continues a four-week winning streak, Uranium Participation Corp concludes an equity raising to fund future purchases of uranium

-Uranium Participation Corp raises C$80m
-Exelon seeks nuclear plant reprieve
-Uranium spot price rises by 0.8% for the week and 10% for May

In a good sign for interest in the uranium sector, Canadian-listed Uranium Participation Corp has closed its capital raising with proceeds of approximately C$80.5m/US$66.8 million. The original raising announced 3 May was for C$50m and it was upsized the next day to C$70m.The company invests nearly all of its assets in uranium, in the form of uranium oxide or uranium hexafluoride, with the primary objective of achieving capital appreciation. Consequently, net proceeds of the offering will be used by the company to fund such future purchases as well as an allocation toward general corporate purposes. After deducting fees, that should give the company […]

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