International Consolidated Uranium Closes Oversubscribed C$5.5 Million Private Placement
Summary
Philip Williams, President and CEO commented, "With the close of todays financing, we believe CUR is well funded, with over $10m in cash and marketable securities, to execute on its strategy of consolidating and developing uranium projects around the globe. We would like to acknowledge the participation of our existing institutional investors, including Sachem Cove and Segra Capital, who subscribed for the bulk of the placement. Such forward-looking information and statements are based on numerous assumptions, including that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Companys planned exploration activities will be available on reasonable terms and in a timely manner. Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended.