Saskatoon-based Uranium mining company Cameco has announced that it has disposed of an aggregate of 5 million common shares in the capital of UEX Corporation at a price of about $0.30 per common share for aggregate proceeds of just over $1.5 million. Cameco disposed of the securities through trades completed Monday through various stock exchanges. The 5 million common shares represent about 1.1% of the current issued and outstanding common shares of UEX on a non-diluted basis.
Cameco says the transaction was not material to Cameco. However, since they held over 10% of the outstanding share capital in UEX prior to the disposition, reporting obligations under Canadian securities law required the company issue a news release and subsequently file an early warning report disclosing the transaction.