Uranium Participation Corporation Announces Appointment of Tim Gabruch as Chief Commercial Officer
TORONTO, Sept. 5, 2018 /CNW/ - Uranium Participation Corporation ("UPC" or the "Company") (TSX:U) is pleased to announce the appointment of Mr. Tim Gabruch as Chief Commercial Officer effective September 5, 2018. Mr. Gabruch will assume responsibility for all of UPC's commercial activities over the next several months, as part of an orderly transition of duties from Mr. Scott Melbye, UPC's Vice President Commercial. Mr. Melbye is moving on from his part-time consulting role with Denison Mines Corp. (TSX:DML), the parent company of UPC's Manager, to focus on other opportunities in which he is involved.
In announcing the appointment of Mr. Gabruch, UPC's President & CEO, David Cates, commented: "Tim's experience is very well suited to UPC's business and I'm looking forward to working closely with him as UPC positions itself to respond to increasing investor interest in the uranium space. I would also like to thank Scott Melbye for his commitment to UPC and the entire uranium sector over the last several years – Scott is a true champion for the uranium and nuclear energy business."
Mr. Gabruch is expected to bring considerable uranium industry insight to UPC, with almost two and a half decades of varied experiences in the uranium mining and nuclear energy industries – having spent 23 years with Cameco Corporation ("Cameco") in various marketing and corporate development roles. Most recently, he served as Vice President Marketing, from 2011 to 2017, where he led a diverse team responsible for strategy development, sales and marketing, as well as inventory and logistics management. During this period, he also managed Cameco's role in the historic 'Megatons to Megawatts' HEU agreement through the final three years of the arrangement. While in corporate development roles, Tim lead a range of business development projects and investment opportunities internationally, including the acquisition of Cameco's former nuclear fuel trading subsidiary, NUKEM GmbH.
About Uranium Participation Corporation
Uranium Participation Corporation is a company that invests substantially all of its assets in uranium oxide in concentrates ("U3O8") and uranium hexafluoride ("UF6") (collectively "uranium"), with the primary investment objective of achieving appreciation in the value of its uranium holdings through increases in the uranium price. UPC provides investors with a unique opportunity to gain exposure to the price of uranium without the resource or project risk associated with investing in a traditional mining company. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on UPC's website at www.uraniumparticipation.com.
Caution Regarding Forward-Looking Information
This press release contains certain forward-looking statements and forward-looking information that are based on UPC's current internal expectations, estimates, projections, assumptions and beliefs. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intent", "estimate", "anticipate", "plan", "should", "believe" or "continue" or the negative thereof or variations thereon or similar terminology and include statements with respect to the anticipated role and objectives to be achieved with the appointment of Tim Gabruch; the departure of Mr. Melbye; and UPC's investment objectives.
By their very nature, forward-looking statements involve numerous factors, assumptions and estimates. A variety of factors, many of which are beyond the control of UPC, may cause actual results to differ materially from the expectations expressed in the forward-looking statement. These factors include, but are not limited to, the risk that UPC will not obtain the anticipated benefits of its agreements with third parties. For a description of the principal risks of UPC, see "Risk Factors" in UPC's Annual Information Form dated May 14, 2018 for the year ended February 28, 2018, a copy of which is available at www.sedar.com.
These and other factors should be considered carefully, and readers are cautioned not to place undue reliance on these forward-looking statements. Although management reviews the reasonableness of its assumptions and estimates, unusual and unanticipated events may occur which render them inaccurate. Under such circumstances, future performance may differ materially from those expressed or implied by the forward-looking statements. Except where required under applicable securities legislation, UPC does not undertake to update any forward-looking information statement.