UPC is a company which was created to invest in uranium, either directly or through its limited purpose wholly-owned subsidiary, UPBL. The common shares of the Corporation represent an indirect interest in physical uranium owned, directly or indirectly, by UPC. As a result, an investment in the common shares of the Corporation provides an investment alternative for investors interested in investing directly in uranium in a manner that does not directly include risks associated with investments in companies that engage in the exploration, mining and processing of uranium.
The strategy of UPC is to invest in holdings of uranium and not to actively speculate on changes in uranium prices by entering into contracts or derivative arrangements. While it is not the current intention of UPC to do so in the short term, it may subsequently sell some or all of its holdings in uranium.
All uranium owned by UPC is stored at licensed uranium conversion or enrichment facilities (each one, a "Facility" or collectively, the "Facilities") in Canada, France and the United States. The Manager, on behalf of UPC, negotiates storage arrangements with the Facilities. See "About UPC - Management of UPC" for more information.