Trans Atlantic Metals AG
Trans Atlantic Metals AG: Uranium International Corp. (UIC) ends joint venture
Trans Atlantic Metals AG
www.transatlanticmetals.ch Hauptstrasse 48 A 8832 Wollerau Schweiz – Suisse – Switzerland Email: transatlantic@gmx.ch Uranium International Corp. (UIC) ends its joint venture for the acquisition of Swedish uranium deposits. Wollerau, 7th July 2010. UIC has terminated the contract with Trans Atlantic Metals AG for the exploration and acquisition of uranium deposits owned by Trans Atlantic Metals AG in Sweden. TA Metals AG regrets this step and after careful consideration has accepted the termination of the joint venture as of today. TA Metals AG reserves the right to legal action and compensation payments which may result from the termination. Uranium International Corp. justified the termination of the contract with a management change and reorganisation of company activities. In future the company will carry out the exploration and production of gold and precious metals under the name Mercer Gold and will no longer carry out any activities in the area of uranium exploration. TA Metals AG is however still convinced of the future success of the acquisition of Swedish owned uranium deposits. They will therefore be looking for a new partner for exploration work. TA Metals AG management is convinced that despite their limited financial resources, a new partner can be found as a result of the already existing positive data about available resources in Swedish uranium deposits. Trans Atlantic Metals AG is a raw materials exploration company based in Switzerland, which holds licences for the exploration of several sites containing uranium in North and Central Sweden to carry out further exploration there and in the medium-term plan the exploitation of existing deposits.
Interested parties can find more information on the company's own website: Investor Relations: Privilege Relations LLP
Tel + 44 0203 051 1044 End of Corporate News 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 |
93657 07.07.2010 |