White Canyon Uranium Receives Support From Hong Kong Investor, Man Ying Lulu Yu

Published on Friday February 11 2011

Uranium producer and explorer, White Canyon Uranium (ASX: WCU, TSX-V: WU) has received a show of confidence from Hong Kong investor, Man Ying Lulu Yu with an intention to convert a US$2.5 million convertible note into White Canyon shares.

The convertible note was established in July and due for repayment in January 2011. The investor elected not to redeem the note but to convert the note in ordinary shares at A$0.1075 per share.

Once the note is converted, total issued capital for White Canyon will rise to 231 million shares.

Mike Bynum, chief executive officer of White Canyon stated “We are pleased that Ms. Yu continues to have confidence in the future of White Canyon Uranium as demonstrated by this increase in holdings”.

White Canyon Uranium Ltd is a Perth, Western Australia based company focused on acquisition, exploration, and development of uranium producing properties.

The company’s U.S. operations are headquartered in Moab, Utah and comprise multiple mining tenements covering approximately 15,500 acres in Southern Utah.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

@

australian-uranium-quick-search