U3O8 Corp. begins trading on the Santiago Stock Exchange in Chile
January 7, 2015 (Source: CNW) — Provides access to MILA – Latin America’s largest stock-trading platform
U3O8 Corp. (TSX: UWE, OTCQX: UWEFF), a Canadian-based company focused on exploration and development of uranium and associated commodities in South America, announces that its common shares began trading today on the senior market of the Santiago Stock Exchange (“SSE”) in Chile, under the symbol “UWE”. U3O8 Corp’s principal listing continues to be on the Toronto Stock Exchange (“TSX”) under the symbol “UWE” as well as having a secondary listing on the OTCQX in the USA under the symbol “UWEFF”.
“A listing on the Santiago Stock Exchange reinforces our commitment to South America where we are advancing uranium deposits whose preliminary economic assessments show some of the lowest potential production costs in the industry,” said Dr. Richard Spencer, U3O8 Corp’s President and CEO. “This listing will expand our presence in South America by making it easier for local investors to purchase shares in U3O8 Corp., enabling them to participate directly in the growth potential of these assets in their region. In addition, we gain access to a potential new source of capital through Chile – a country with a long mining history and home to some of the world’s consistently top-performing pension funds.”
U3O8 Corp’s SSE listing also provides entry onto MILA (the Integrated Latin American Market), an integrated platform on which investors and brokers in Chile, Colombia, Mexico and Peru seamlessly trade shares listed on any of the four markets through their local stock exchange. MILA is the largest financial centre in Latin America with a combined market capitalization of over US$1 trillion. Hence, U3O8 Corp’s shares will be available on any of these stock exchanges and opens up alternative financing opportunities for the company across these major markets.
About the Santiago Stock Exchange
The SSE in Chile is the third largest stock exchange in Latin America behind Brazil and Mexico. Chile’s pension funds manage over US$160 billion and over 40% of its assets are in equities. Although mining accounts for more than half of Chile’s exports, only eight resource companies are currently listed on its stock exchange. In order to address this imbalance, the SSE partnered with the TSX to establish a new division to help foster growth of the resource market in Chile by allowing TSX companies to dual-list in Santiago and access capital from Latin American markets.
About U3O8 Corp.
U3O8 Corp. is focused on exploration and development of uranium resources and associated commodities in South America. The company’s uranium resources comprise three deposits defined in accordance with National Instrument 43-101 located in Colombia, Argentina and Guyana:
- Berlin Deposit, Colombia – a preliminary economic assessment (“PEA”) shows that Berlin could be a zero cash cost uranium producer thanks to revenue from by-products of phosphate, vanadium, nickel, rare earths (yttrium and neodymium) and other metals occurring in the same deposit;
- Laguna Salada Deposit, Argentina – a recent PEA shows this near surface, free-digging uranium, vanadium deposit is potentially amenable to low-cost mining and processing methods. Uranium would be produced at a cash cost of US$21.62 per pound, well within the industry’s lower quartile of uranium cash costs; and
- Kurupung Deposit, Guyana – an initial uranium deposit in a large emerging uranium district.
Certain information in this release are forward-looking statements with respect to the development plans, economic potential and growth targets of U3O8 Corp’s current projects. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intensions for the future, and include, but not limited to, statements with respect to: (a) the low-cost, near-term production goal of Laguna Salada, (b) the Laguna Salada and Berlin PEAs, (c) the market opportunities for uranium in Argentina and internationally, (d) the potential of the Kurupung district in Guyana, and (e) the access to potential capital and a market for the company’s shares will be realized in Latin America. Basis for such assumptions include that: (i) actual results of our exploration, resource goals, metallurgical testing, economic studies and development activities will continue to be positive and proceed as planned, and assumptions in the Laguna Salada and Berlin PEAs prove to be accurate, (ii) requisite regulatory and governmental approvals will be received on a timely basis on terms acceptable to U3O8 Corp., (iii) investment interest in South America will be positive, and (iv) economic, political and industry market conditions will be favourable. However, such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including, but not limited to: (1) that a mine will be achieved on the Laguna Salada Project in compliance with current Chubut mining law, (2) that a mine will be achieved on the Berlin Deposit and other exploration projects, (3) that beneficiation test work will continue to be favourable and results from small scale metallurgical testing can be duplicated on a larger scale, (4) the inherent uncertainties and speculative nature associated with exploration results, resource estimates, potential resource growth, future metallurgical test results, changes in project parameters as plans evolve, (5) volatility of commodity prices; (6) dependence on regulatory approvals and changes in legislation, environmental compliance, community support and the political and economic climate, (7) availability of future financing in North and South America, (8) sufficient liquidity and investment interest will be generated in the South American capital markets, and (9) exploration risk and other factors beyond the control of U3O8 Corp. including those factors set out in the “Risk Factors” in our Annual Information Form available on SEDAR at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. U3O8 Corp. assumes no obligation to update such information, except as may be required by law. For more information on the above referenced PEAs, refer to the September 18, 2014 technical report titled “Preliminary Economic Assessment of the Laguna Salada Uranium-Vanadium Deposit, Chubut Province, Argentina” and the January 18, 2013 technical report titled “U3O8 Corp. Preliminary Economic Assessment on the Berlin Deposit, Colombia.”
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