Post by Franko10 ™ on Feb 7, 2006 7:15:42 GMT -5
IUC Purchases 900,000 Common Shares of Standard Uranium Inc. (ccnm)
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 6, 2006) - International Uranium Corporation ("IUC") (TSX:IUC) announces that it has acquired 900,000 common shares in the capital stock of Standard Uranium Inc. ("Standard Uranium"), a Vancouver-based company whose shares trade on the TSX Venture Exchange. The shares were acquired pursuant to the exercise of previously acquired share purchase warrants at a price of Cdn $0.48 per share for a total consideration of Cdn $432,000.
Prior to the reported acquisition, IUC owned 900,000 common shares of Standard Uranium. As a result of this acquisition, IUC holds, as at the date hereof, an aggregate of 1,800,000 common shares of Standard Uranium (or approximately 11.7% of the outstanding common shares of Standard Uranium).
IUC has acquired the common shares of Standard Uranium for investment purposes, and may acquire further common shares of Standard Uranium, or dispose of its holdings of common shares of Standard Uranium, both as investment conditions warrant.
IUC is engaged in uranium exploration and production. It holds significant uranium deposits in Mongolia and uranium and vanadium deposits in the U.S. and a fully permitted 2,000 ton per day uranium/vanadium mill near Blanding, Utah (one of only two operating uranium mills in the U.S.), as well as uranium exploration properties in the Athabasca Region in Canada. The Company also processes and recycles uranium-bearing waste materials as an environmentally superior alternative to direct disposal. In addition, the Company is a significant shareholder in Fortress Minerals Corp., a public company engaged in precious and base metal exploration in Mongolia and Russia.
Statements contained in this news release which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium and vanadium; the impact of the sales volume of uranium and vanadium; competition; reliance on income from processing uranium-bearing waste materials; the impact of change in foreign currency exchange rates and interest rates; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; changes to reclamation requirements; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; replacement of production and failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; ability to maintain and further improve positive labour relations; operating performance of the facilities; success of planned development projects; and other development and operating risks. Although IUC believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release. IUC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Ron F. Hochstein, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
International Uranium Corporation
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
www.intluranium.com
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 6, 2006) - International Uranium Corporation ("IUC") (TSX:IUC) announces that it has acquired 900,000 common shares in the capital stock of Standard Uranium Inc. ("Standard Uranium"), a Vancouver-based company whose shares trade on the TSX Venture Exchange. The shares were acquired pursuant to the exercise of previously acquired share purchase warrants at a price of Cdn $0.48 per share for a total consideration of Cdn $432,000.
Prior to the reported acquisition, IUC owned 900,000 common shares of Standard Uranium. As a result of this acquisition, IUC holds, as at the date hereof, an aggregate of 1,800,000 common shares of Standard Uranium (or approximately 11.7% of the outstanding common shares of Standard Uranium).
IUC has acquired the common shares of Standard Uranium for investment purposes, and may acquire further common shares of Standard Uranium, or dispose of its holdings of common shares of Standard Uranium, both as investment conditions warrant.
IUC is engaged in uranium exploration and production. It holds significant uranium deposits in Mongolia and uranium and vanadium deposits in the U.S. and a fully permitted 2,000 ton per day uranium/vanadium mill near Blanding, Utah (one of only two operating uranium mills in the U.S.), as well as uranium exploration properties in the Athabasca Region in Canada. The Company also processes and recycles uranium-bearing waste materials as an environmentally superior alternative to direct disposal. In addition, the Company is a significant shareholder in Fortress Minerals Corp., a public company engaged in precious and base metal exploration in Mongolia and Russia.
Statements contained in this news release which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium and vanadium; the impact of the sales volume of uranium and vanadium; competition; reliance on income from processing uranium-bearing waste materials; the impact of change in foreign currency exchange rates and interest rates; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; changes to reclamation requirements; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; replacement of production and failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; ability to maintain and further improve positive labour relations; operating performance of the facilities; success of planned development projects; and other development and operating risks. Although IUC believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release. IUC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD
Ron F. Hochstein, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
International Uranium Corporation
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
www.intluranium.com