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Uranium Participation Corporation Completes $40.6 Million Bought Deal Financing

Published: 10/04/2017

Team: Chad Accursi, Kyle Simpson, James Lyle, Christopher B. Norton

On October 4, 2017, Uranium Participation Corporation completed a bought deal offering of 11,600,000 common shares at a price of $3.50 per share, which included the full exercise of the over-allotment option granted to the underwriters, for gross proceeds of $40.6 million. The common shares issued under the offering were qualified by a prospectus supplement to a short form base shelf prospectus dated December 9, 2016.

The offering was underwritten by a syndicate of underwriters co-led by Cormark Securities Inc. and Cantor Fitzgerald Canada Corporation, as co-bookrunners, and included TD Securities Inc. and BMO Nesbitt Burns Inc.

The proceeds of the offering will be used by UPC to fund future purchases of uranium oxide in concentrates and/or uranium hexafluoride and for general corporate purposes.

Cassels Brock acted for UPC with a deal team that included Chad Accursi, Kyle Simpson and James Lyle (Securities) and Chris Norton (Tax).