U3O8 Corp. Shareholders Elect New Board of Directors at the Annual and Special Meeting and the Company Issues Stock Options
36 Toronto Street T: 416-868-1491
Suite 1050 www.u3o8corp.com
Toronto, ON M5C 2C5 NEX: UWE.V
Canada
Press Release
U3O8 Corp. Shareholders Elect New Board of Directors at the Annual and Special
Meeting and the Company Issues Stock Options
Toronto, Ontario – July 04, 2022 – U3O8 Corp. (NEX: UWE.H), (“U3O8” or the “Company”) is pleased to
announce that all matters brought before shareholders were approved at its Annual and Special Meeting
(“ASM”) held in Toronto on June 30, 2022, including the election of a new Board of Directors along with
other matters as outlined in the Management Information Circular dated May 31, 2022.
Richard Spencer, U3O8 Corp.’s President and CEO, commented, “ I welcome the new board members
elected by shareholders and am looking forward to working with the m. The new board brings a depth of
talent to the Company, spanning banking and finance, mining engineering, legal, and a depth of knowledge
that we need to drive the Berlin deposit forward and to thoroughly assess M&A opportunities. I would like
to thank the outgoing board members for their counsel and guidance through a difficu lt period in the
Company’s development. The board members were not paid and in addition, Keith Barron, the founder
and former chairperson, made a loan available to the Company that allowed the Company to weather the
storm of a lacklustre uranium market.”
Introducing the New Independent Board Members
Trumbull Fisher
Trumbull is a capital markets professional with over 15 years of experience working both at investment
banks and in investment management. He has experience raising capita l for small cap companies while
working for institutional investment banks and working with start -up companies. Trumbull has co -founded
an offshore hedge fund which was successfully acquired by another fund after several years of
management. Trumbull has deep experience on both public and private boards in addition to holding other
roles which include, chairman, CEO, president, and advisor to both public and private companies .
Michael Skutezky
Michael has over 40 years of experience in the financial and resource sector in Canada and has held
positions including Assistant General Counsel of RBC Royal Bank, where he focused on International and
Canadian Project financing followed by a term as Senior VP Personal Trust, National Trust Company prior
to its acquisition by Bank of Nova Scotia and as General Counsel of Telesysteme Internationale, a Montreal
based wireless startup in Eastern Europe. Michael has practiced law with major and boutique law firms
and has served as an officer, counsel, chairman and director of several private and public companies and
has been a founder in the listing of several TSX, TSX-V, CSE, OTC QX resource sector companies.
Michael holds a B.A. in business from Bishop’s University and an L.L.B. from Dalhousie Law School. He is
a member of the Canadian and International Bar Associations and is a former member of the Nova Scotia
Barristers’ Society and a member of the Law Society of Ontario.
Marty Tunney
Marty brings a wealth of mining experience , having been in the industry for 18 years. As a professional
mining engineer, Marty has worked for several majors including Inco Limited and Newmont Corporation,
and has held senior management roles with NewCastle Gold Ltd. (formerly Castle Mountain Mining
Company Ltd.) and Solstice Gold Corp. Marty worked across multiple provinces and territories in Canada,
as well as the Southwestern United States where he successfully permitted projects for exploration and
development and was instrumental in moving projects in to production. M arty Tunney also spent several
years in capital markets with both an international investment bank and a Canadian bank owned dealer in
their global mining team working on transactions of all types and sizes. Marty is currently President & COO
of Consolidated Uranium Inc.
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Results
Results of the election of the Company’s slate of directors are provided below:
Name of Nominee Votes For Votes Withheld
Number % Number %
Trumbull Fisher 6,059,154 97.51 154,745 2.49
Michael Skutezky 6,066,154 97.62 147,745 2.38
Richard Spencer 6,059,504 97.51 154,395 2.49
Marty Tunney 6,067,154 97.64 146,745 2.36
At a board meeting after the ASM, Trumbull Fisher was elected Chairperson of the Company.
The number of shares voted was 8,349,386, representing 23.52% of the Company’s outstanding shares.
For more information on the ASM and the matters voted on, plea se refer to the Company’s Management
Information Circular dated May 31st, 2022 available on the Company’s SEDAR profile at www.sedar.com.
Issuance of Stock Options
The Company has issued an aggregate total of 2,250,000 stock options to board members, management,
and consultants. The stock options have a five-year term and an exercise price of $0.16, corresponding to
the closing price of the Company’s stock on the NEX platform of the TSX Venture Exchange on June 30th,
2022. These options comply with the Company’s standard option practice with one qu arter of the options
vesting on the date of grant and one quarter vesting on each of the six-month, 12-month and 18 -month
anniversaries of the date of grant.
About U3O8 Corp.
U3O8 Corp. is focused on the development of the Berlin Deposit in Colombia. Apart from uranium for clean,
nuclear energy, the Berlin Deposit contains battery commodities including nickel, phosphate and vanadium.
Phosphate is a key component of lithium-ion ferro-phosphate (“LFP”) batteries that are being used by BYD,
Tesla and a growing list of electric vehicle manufacturers. Nickel is a component of various lithium -ion
batteries, while vanadium is the element used in vanadium redox flow batteries. Neodymium, one of the
rare earth elements contained within the Berlin Deposit , is a key component of powerful magnets that are
used to increase the efficiency of electric motors and in generators in wind turbines.
For further information, please contact:
Richard Spencer, President & CEO, U3O8 Corp., Tel: (647) 292-0225 [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 Berlin Project. 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 completion of a
reactivation transaction or successful reactivation of the Berlin Project; (b) the potential for membrane
technology to increase the efficiency of metal and phosphate extraction on the Berlin Project, (c) the price
and market for uranium, battery commodities and rare earth elements, and (d) the future price of uranium.
These statements are based on assumptions, including that: (i) the ability to find a profitable undertaking
or successfully conclude a purchase of such an undertaking at all or on terms which are commercially
acceptable; (ii) actual results of our exploration, resource goals, metallurgical testing, economic studies and
development activities will continue to be positive and proceed as planned, (iii) requisite regulatory and
governmental a pprovals 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 , battery commodities and rare earth elements will continue to strengthen . 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)
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changes in general economic and financial market conditions, (2) changes in demand and prices for
minerals, (3) the Company’s ability to source commercially viable reactivation transactions and / or establish
appropriate joint venture 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)
the effects of C OVID-19 on the business of the Company, including, without limitation, effect s of COVID-
19 on capital markets, commodity prices, labour regulations, supply chain disruptions and domestic and
international travel restrictions, (9) exploration risks, and other factors beyond the co ntrol of U3O8 Corp.
including those factors set out in the “Risk Factors” in our Management Discussion and Analysis dated May
2, 2022 for the fiscal year ended December 31, 2021 available on SEDAR at www.sedar.com. Readers are
cautioned that the assumptions used in the prepar ation 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this press release.