Uranio AG
Uranio AG: Corporate and Financing Update
Uranio AG / Miscellaneous/Miscellaneous 07.07.2010 14:37 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Uranio AG WKN: A0MKD4 Hirschgässlein 30 Frankfurt: UAI CH-4051 Basel Schwitzerland www.uranio.ch Basel, 7th July 2010 Announcement Corporate and Financing Update The Board of Uranio would like to take this opportunity to update shareholders on the Company progress during the year. The Company is pleased to report the Argentinean joint venture with Mercator is progressing well. Mercator has requested an extension to the agreement to enable Mercator to complete the required due diligence. The Company's Central African Republic concession agreements have been subject to a detailed analysis by external geological consultants during 2010, the reports from the consultants lead the company to believe further exploration is warranted, to this end the Company is finalising a 5,000 line km air borne radiometric and magnetic gradiometry survey, follow up geological program and diamond drilling. The Company must raise by authorised capital additional funding in the short term to commence the planned exploration program and meet corporate operating overheads. The Central African Republic concessions are up for renewal in August 2010 and the company will need to raise additional funds to meet these obligations. The Board is confident that after discussions with potential investors the Company will be able raise the necessary funds, sufficient for ongoing operations and planned exploration programs in the Central African Republic, even within this difficult market environment. The Directors wish to advise shareholders that without raising these additional funds the Company will not be a going concern. On behalf of the Board of Directors David Risbey Disclaimer: This document was prepared by Uranio AG. The opinions stated herein are those of Uranio AG at the time of publication and are subject to change at any time. The document is only for the purpose of information and use by its recipient. It is neither an offer nor an invitation to purchase or sell Uranio AG shares. A reference to the performance of the past shall not be understood as an indication of future developments. The information and analysis contained in this publication have been compiled from sources that are deemed to be reliable. However, Uranio AG gives no guarantee with regard to their reliability and completeness and rejects any claim for damages that may be the result of use of this information. Uranio AG Hirschgässlein 30 CH-4051 Basel Schwitzerland Phone: +41(61)271 27 70 Fax: +41(61)271 27 71 07.07.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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