TSX.V: UCR
REGINA, Feb. 13 /CNW/ - Uranium City Resources Inc. ("UCR" or the Corporation), is pleased to announce the following significant corporate updates:
At a Special Shareholders Meeting held Feb 13, 2009 in Toronto, shareholders voted in favor of the following:
1) the sale of a 100% interest in all of the Corporation's mineral claims located near Uranium City in the Province of Saskatchewan pursuant to the letter agreement dated November 24, 2008 between the UCR and Red Rock Energy Inc. for total consideration of $975,000. 2) an amendment to the articles of incorporation to change the name of the Corporation. The new name that has been determined by the Board is to be Strategic Resources Inc. The process of instituting this name change and having a new ticker symbol assigned has now commenced and should be complete within the next several weeks. 3) an amendment to the articles of incorporation to add Preferred Shares to the capital structure. 4) changing the municipality of the Corporation's office to Toronto, Ontario from its previous location in Kirkland Lake, Ontario.
In addition, UCR continues to make significant progress on its joint venture Uranium exploration project in New Mexico, USA. Proposed drill hole locations have been marked out at the project area. Ecosystem Management Inc. along with Halterman Consulting, both of Albuquerque, NM, have now both been retained to assist with the preparation and filing of the Plan of Operations and the Minimal Impact Exploration Permit. Project area maps and geological reports can be viewed online at www.uraniumcityresources.com. UCR also continues to search for and evaluate additional exploration projects in New Mexico and other parts of the Colorado Plateau.
About Uranium City Resources
Uranium City Resources is a Canadian based junior exploration company with an exploration project in Catron County, New Mexico and options on projects in northern Saskatchewan, Canada. More information about UCR is available on line at www.uraniumcityresources.com
Forward looking information:
This news release contains certain forward-looking information. Such information includes, but is not limited to, UCR's expectation that the Transaction will be completed. Such forward-looking information is qualified in its entirety by the inherent risks and uncertainties surrounding future expectations, including that the Transaction may be completed on terms that differ materially from the terms and conditions expressed or implied by such information.. Forward-looking information is based on a number of assumptions which may prove to be incorrect, including, but not limited to: the ability of UCR to obtain necessary shareholder approval to complete the Transaction or either of the parties to satisfy the requirements of the TSX Venture Exchange with respect to the Transaction. The cautionary statements qualify all forward-looking information attributable to UCR and persons acting on its behalf. Unless otherwise stated, all forward-looking information speaks only as of the date of this press release and UCR has no obligation to update such information except as required by law. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.