Uranium 308 Corp.(fka URCO)

[petermic]

10Q released today for the period ended September 30.

87 million shares outstanding at November 19.

At the present time, we are in the process of conducting a private placement to raise additional cash. As of November 1, 2007, the Company has received payment for subscriptions to purchase 578,500 units (each a “Unit”) of the Company at a price of $1.00 per Unit for total proceeds of $578,500. Each Unit consists of one share of common stock of the Company and one-half of one share purchase warrant (each a “Warrant”). Each whole Warrant entitles the holder thereof to acquire one additional share of common stock of the Company at an exercise price of $2.00 per share with an expiration date of two years from the date of issuance of the Warrants.