TORONTO, April 14 /CNW/ - Uranium Focused Energy Fund (the "Fund") announced today its intention to make a normal course issuer bid for its units through the facilities of the Toronto Stock Exchange (the "TSX"). This normal course issuer bid will commence on April 16, 2010 and will terminate on April 15, 2011. In accordance with the Declaration of Trust by which the Fund is governed, market purchases pursuant to its normal course issuer bid may be effected by the Fund.
The Fund had 21,539,584 units issued and outstanding as at April 9, 2010. Uranium may, during the 12 month period commencing April 16, 2010 purchase on the TSX up to 2,082,913 units, being 10% of the public float of 20,829,134 units and may not, in any 30 day period, purchase more than 430,791 units, being 2% of the units issued and outstanding. Uranium will hold in treasury for resale all units purchased pursuant to the bid. As at April 9, 2010 Uranium had purchased 207,100 units at an average price of $3.26 per unit under its previously approved normal course issuer bid. Uranium believes that its units represent good value for the Fund and purchases under the normal course issuer bid may serve to enhance returns to unitholders.
The units of Uranium Focused Energy Fund trade on the Toronto Stock Exchange under the symbol "UF.UN".
SOURCE URANIUM FOCUSED ENERGY FUND
For further information: For further information: visit our website at www.middlefield.com or contact the undersigned: Nancy Tham, Senior Vice President, (416) 847-5349