uranium participation loading up on more u

This will spook the uranium price higher over the next few weeks. Talks coming out of the US of some utilities rushing to secure inventorieswhich we've suspected all year but all eyes are on China.

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Uranium Participation files preliminary prospectus

2005-11-16 15:25 ET - News Release

Mr. E. Peter Farmer reports

URANIUM PARTICIPATION CORPORATION FILES PRELIMINARY PROSPECTUS

Uranium Participation Corp. has filed a preliminary prospectus to issue common shares. Uranium Participation has retained Sprott Securities Inc. as lead underwriter of the offering. The net proceeds of the offering will be used to purchase uranium oxide in concentrates (U3O8). An underwriting agreement has not yet been entered into. The terms of the offering (including the number of shares, price and gross proceeds) are expected to be determined at a later date.

Uranium Participation was created to invest in, hold and may subsequently sell U3O8. Uranium Participation and Denison Mines Inc. (the manager) have entered into a management services agreement pursuant to which the manager has agreed to manage Uranium Participation's activities, including arranging and completing for and on behalf of Uranium Participation, any purchase and sale of U3O8. Uranium Participation will invest at least 85 per cent of the gross proceeds of the offering in U3O8.

The objective of Uranium Participation is to provide an investment alternative for investors interested in holding U3O8, which will be physically stored in duly licensed facilities located in Canada, France, the United Kingdom and/or the United States. The strategy of Uranium Participation is to invest primarily in long-term holdings of U3O8 and not to actively speculate with regard to short-term changes in uranium prices.

These securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the act or unless an exemption from registration is available.