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Synatom invests more in Powertech Print

by Staff
Northern Colorado Business Journal
December 23, 2008

VANCOUVER, B.C. and BRUSSELS - Belgium-based Synatom, a nuclear power company, has entered into agreements with Vancouver-based Powertech Uranium Corp. that will provide a bridge loan of $2.5 million Canadian to Powertech and that will funnel an additional $9 million Canadian as a "strategic investment" in the uranium mining company.

Powertech Uranium Corp. is the parent company of Powertech USA, which is pursuing mining permits to extract uranium in Weld County, Colorado, Wyoming and South Dakota.

Synatom, one of Europe's biggest nuclear power companies with seven plants, announced last June that it would provide $9 million Canadian and the potential of another $24 million Canadian in the purchase of Powertech stock if Powertech meets milestones related to its projects.

 




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