U3O8 Corp. Announces Results of Shareholder Meeting and Warrant Cancellation
401 Bay Street T: 416-868-1491
Suite 2702 www.u3o8corp.com
Toronto, ON M5H 2Y4 TSX: UWE
Canada OCTQB: UWEFF
Press release
U3O8 Corp. Announces Results of Shareholder Meeting and Warrant Cancellation
Toronto, Ontario – June 23, 2017 – U3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) (“U3O8 Corp.” or the
“Company”) reports that all matters brought before its shareholders were approved at the Annual &
Special Meeting (“ASM”) held yesterday in Toronto, Ontario. A total of 121,790,106 of the Corporation’s
common shares were voted, representing 35% of its issued an d outs tanding stock . In addition, 19.3
million warrants expired and 2.85 million warrants were exercise d for gross proceeds of $99, 750, which
together reduce the number of outstanding warrants by approximately 18%.
Warrant Exercise & Expiry
In the press release dated June 7 th, 2017, U3O8 Corp. reported that a shareholder had offered to have
19.3 million warrants accelerated at a strike price of over double the current share price. The warrant
acceleration term ended at midnight last night, at which time the warrants had not been exercised, and
have therefore been cancelled. “The shareholder who made this offer did so in the broader interest of
other shareholders in helping the Company achieve a leaner capital structure . I would also like to thank
the shareholders who voted , providing a clear mandate to the B oard,” said Richard Spencer, U3O8
Corp.’s President and CEO.
In addition, Dr. Keith Barron, a director of the Corporation, exercised 2.85 million out -of-the-money
warrants for gross proceeds of $99,750 in order to provide the Company with working capital without
diluting other shareholders.
Key matters approved at the ASM include:
Consolidation and Deconsolidation of the Corporation’s Stock (“Consolidation-Deconsolidation”)
The goal of the Consolidation -Deconsolidation is to prov ide a cost-effective method of paying out, for the
value of shares held, accounts of less than 1,000 U3O8 Corp. shares. Most accounts that hold less than
1,000 shares are inactive and removal of these accounts from the shareholder register would result in
significant administrative cost savings.
The Company will be offering a simple and cost-effective way for shareholders, irrespective of account
size, to purchase additional shares of the Company pr ior to the Consolidation -Deconsolidation coming
into effect. The additional shares will be made available within the next few business days via an “Existing
Shareholder Prospectus Exemption” (“ESP E”) – and shareholders will have a two - to three-week window
in which to participate. General information on the ES PE is available on the Company’s homepage at
http://www.u3o8corp.com and specific terms of the financing will be press released shortly.
The Consolidation-Deconsolidation was approved by 96% of the shares voted, with 4% against.
Share Consolidation (“Consolidation”)
Shareholders approv ed the proposal to undertake a C onsolidation of 20 current U3O8 Corp. shares to
one new (post -Consolidation) share. The aim of the Consolidation is to m eet the metrics required for
larger funds to invest in the stock alongside the Company’s current shareholder base. The result of the
shareholder ballot was 86% of shares voted in favour and 1 4% against. The Board intends to undertake
the Consolidation after the Consildation-Deconsolidation, described above, has been completed.
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Directors
Shareholders voted for the slate of directors proposed by Management as follows:
Director % Votes For % Votes Abstained
Keith Barron 98% 2%
David Constable 98% 2%
David Franklin 98% 2%
Pablo Marcet 98% 2%
David Marsh 98% 2%
Richard Spencer 98% 2%
U3O8 Corp.’s Chairman, Mr David Constable, commented: “I would like to formally thank Darin Milmeister
who offered not to stand for re -election as a director, so as to allow David Marsh to be nominated without
increasing the size of the b oard. Darin provided sage advice and counsel during his term on the board ,
for which I thank him. I welcome David Marsh to the board and look forward to working with him”.
Auditors
98% of shares were voted in favour of the appointment of Davidson and Company LLP to be the
Company’s auditors for 2017.
About U3O8 Corp.
U3O8 Corp. is focused on exploration and development of deposits of uranium and associated
commodities in South America. Potential by -products from uranium production include commodities used
in the energy storage industry – in the manufacture of batterie s - such as nickel, vanadium and
phosphate. The Company’s mineral resources estimates were made in accordance with National
Instrument 43-101, and are contained in three deposits:
Laguna Salada Deposit, Argentina – a PEA shows this near surface, free -digging uranium -
vanadium deposit has low production-cost potential;
Berlin Deposit, Colombia – a PEA shows that Berlin also has low -cost uranium production potential
due to revenue that would be generated from by-products of phosphate, vanadium, nickel, rare earths
(yttrium and neodymium) and other metals that occur within the deposit; and
Kurupung Deposit, Guyana – a uranium resource has been estimated in four veins within a
uranium-zirconium vein system. Resource s have been estimated on four veins, while consistent
mineralization of the same type has been intersected in scout drilling of an additional six veins, while
yet other veins require first-time exploration drilling.
Information on U3O8 Corp., its resource s and technical reports are available at www.u3o8corp.com and
on SEDAR at www.sedar.com. Follow U3O8 Corp. on Facebook: www.facebook.com/u3o8corp, Twitter:
www.twitter.com/u3o8corp and YouTube: www.youtube.com/u3o8corp.
For further information, please contact:
Richard Spencer, President & CEO, U3O8 Corp. Tel.: (416) 868-1491 [email protected]
Forward-Looking Statements
This news release includes certain “forward looking statements” related with the development plans, economic
potential and growth targets of U3O8 Corp’s projects. Forward -looking statements consist of statements that are not
purely historical, including st atements regarding beliefs, plans, expectations or intensions for the future, and include,
but not limited to, statements with respect to: (a) the low -cost and near-term development of Laguna Salada, (b) the
Laguna Salada and Berlin PEAs, (c) the potential of the Kurupung district in Guyana, (d) impact of the U - pgradeTM
process on expected capital and operating expenditures, and (e) the price and market for uranium. These statements
are based on assumptions, including that: (i) actual results of our explor ation, resource goals, metallurgical testing,
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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) a joint venture will be formed wi th the provincial
petroleum and mining company on the Argentina project, (iii) requisite regulatory and governmental approvals will be
received on a timely basis on terms acceptable to U3O8 Corp., (iv) economic, political and industry market conditions
will be favourable, and (v) financial markets and the market for uranium will improve for junior resource companies in
the short-term. Such statements are subject to risks and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in such statements, including, but not limited to: (1) changes in
general economic and financial market conditions, (2) changes in demand and prices for minerals, (3) the Company’s
ability to establish appropriate joint ven ture partnerships, (4) litigation, regulatory, and legislative developments,
dependence on regulatory approvals, and changes in environmental compliance requirements, community support
and the political and economic climate, (5) 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, (6) competitive developments, (7) availability of future financing, (8) exploration risks,
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-noted
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 Jan uary 18, 2013 technical report titled
“U3O8 Corp. Preliminary Economic Assessment on the Berlin Deposit, Colombia.”