Urex Energy Announces Private Placement
FRIDAY, OCTOBER 13, 2006 4:01 PM
- BusinessWire
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RENO, Nev., Oct 13, 2006 (BUSINESS WIRE) -- Urex Energy Corporation (the "Company" or "Urex") (URXE) (WKN#:A0KFH8) (ISIN#:US9172481064) is pleased to announce a proposed non-brokered private placement financing of up to $2.5 Million to accredited investors.
Urex Energy plans to use the proceeds from this investment to fund the exploration and development of its uranium projects in Argentina and New Mexico. The Company will commence drilling on these properties in early November 2006 subject to receiving final approval from the relevant governmental agencies.
The offering is not subject to any minimum subscription amounts and there is no assurance that any or all of the units offered will be sold.
About Urex Energy Corporation
Urex Energy Corp. is focused on actively exploring and developing uranium properties in Argentina and New Mexico. Urex owns a 99.8% interest in the Rio Chubut property comprised of 170,000 hectares of land which is adjacent to the Cerro Solo Uranium deposit located in Chubut Province within Patagonia of southern Argentina. The Cerro Solo exploration block is approximately 20 km x 50 km, and borders the Cerro Solo Uranium deposit to both the North and the South.
Urex also owns a 100% interest in the La Jara Mesa Extension uranium property consisting of 137 unpatented mining claims in the Grants Mining District, Cibola County, New Mexico. The La Jara Mesa Extension property lies adjacent to Laramide Resources Ltd.'s La Jara Mesa and Melrich uranium deposits. Between 1950 and 1978 the Grants Mining District produced 270 million pound of uranium oxide which ranks it as the most prolific uranium district in the United States.
For more information please visit the Company's website located at www.urexenergy.com.
The securities offered in the private placement will not be registered under the Securities Act of 1933 as amended (the "Act"), and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Act.
SOURCE: Urex Energy Corporation
Urex Energy Corporation
Mr. Richard Bachman, President, 775-721-8883
Copyright Business Wire 2006
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