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Corporate Overview
In 1996, UNOR Inc. (”UNOR” or the “Company”) was incorporated in Ontario, Canada with its primary focus on uranium exploration in the Hornby Bay Basin in western Nunavut, Canada.
In June 2006, Cameco Corporation (“Cameco”) acquired 19.5% of UNOR and the Strategic Alliance Agreement between the companies provides to UNOR ongoing uranium technical knowledge, guidance and exploration opportunities such as the announced October 2006 and February 2007 joint venture agreements with Cameco covering 2.1 million acres.
In September 2006, Cameco and UNOR established a Joint Technical Committee (“JTC”) to facilitate consultations between the companies with respect of exploration programs. The JTC is comprised of four members with two senior exploration personnel from both companies. The JTC duties are to review and recommend exploration plans and budgets for UNOR’s 100% owned mineral claims and leases and also, the joint ventures between the companies.
Our Unique Land Position in Nunavut
Since September 2006, UNOR has increased its Nunavut mineral exploration area from 0.5 million acres to 2.7 million acres or by 414% as shown below:
-
September 2006, 89,300 acres via the UNAD joint venture with Adriana Resources Inc. on 41 claims located between the two companies;
- October 2006, 521,500 acres via the option/joint venture with Cameco Corporation on 206 claims to the west of UNOR’s Coppermine River claim group. UNOR is the operator and in this area UNOR owns in digitized format the historical BP Minerals database; and
- February 2007, 1,588,000 acres via the joint venture with Cameco Corporation on 27 prospecting permits on northwest Baffin Island and UNOR is the operator.
In addition to its increased exploration area, UNOR has also expanded its uranium target models. These now include high-grade unconformity deposits; large, lower-grade disseminated deposits in sandstone; basement hosted high-grade, structurally controlled deposits; and vein type deposits.
The Company’s overall strategy is based on:
- Aggressively and systematically pursuing the discovery of uranium in Nunavut, Canada on its mineral claims, leases and permits covering 2.7 million acres; and
-
Evaluating its Canadian properties in Nunavut, Ontario and British Columbia for all economic mineral deposits including uranium, diamonds, precious metals, copper and nickel.
Also, the Company owns 100% of four copper crown grants in the Princeton area of British Columbia; a 5% net smelter royalty on certain copper claims being developed by Copper Mountain Mining Corporation in British Columbia and 26 gold claims and leases in the Timmins and Dryden areas of Ontario.
The Company is a reporting issuer in Ontario, British Columbia and Alberta and trades on the TSX Venture Exchange under the symbol UNI.
MAJOR SHAREHOLDER:
Cameco
Corporation:
19.5%
of the outstanding common shares
| EXCHANGE: SYMBOL: QUOTE: |
TSX-V UNI Click here |
US OTC UNOFF |
More details regarding the company can be found by reviewing the documents currently on file with SEDAR [System for Electronic Document Analysis and Retrieval] at: http://www.sedar.com
Common Shares
- Authorized:
Unlimited
number of common shares
Unlimited
number of preference shares
- Issued and Outstanding:
139.8 million common shares
- Stock Options Outstanding:
7.9 million at wtd avg price of $0.44
- Warrants Outstanding:
9.4 million at wtd avg price of $0.38
- Preference Shares Outstanding:
None
- Cash on Hand
- Cash fully Diluted
$11.1 million
- Prepaid Exploration Expenses
$0.4
million
Copyright 2008 © UNOR Inc.