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Aug 07, 08 • Universal Provides Update on Kunene #1 Well, Off-Shore Namibia, Africa  READ MORE

Jul 21, 08 • Universal Exercises Options to Increase Ownership in Kunene Energy  READ MORE

Jun 24, 08 • Universal to Acquire a 30% Carried Interest in Off-Shore Namibian Oil and Gas Exploration Licence  READ MORE

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NEWS

Universal Provides Update on Kunene #1 Well, Off-Shore Namibia, Africa

VANCOUVER, B.C. –Universal Power Corp. TSXV: UNX FSE: 3U2A (the “Company”) or (“Universal”) announced today they have been notified that the Kunene #1 well, has been drilled to a depth of 5,050 meters and logging operations are complete. During drilling the well encountered significant hydrocarbon shows in two zones. The first interval is 228 meters starting at about 3700 meters and the second interval is 50 meters starting at approximately 4700 meters. Sampling and coring have been completed and analysis is being conducted by Corelab (Aberdeen). Based on log analysis and hydrocarbon shows, Sintezneftegaz Namibia Ltd. (“Sintez”) the operator, has proposed a testing program first over the lower zone, which is scheduled to begin tomorrow, August 8, 2008.

 

Testing of the prospective lower feature (4698-4748 m) is designed to confirm hydrocarbon makeup and saturation and will allow the partners to assess the commercial viability of the well.   The testing is estimated to take approximately 16 days, however, results will not be published until received and approved by Namibian Government due to tight hole status of this well.

Knowledge Katti, director for the Company stated, “We are very pleased that the Kunene # 1 well has significant hydrocarbon shows and we look forward to receiving results from the testing of this well. Sintez, the operator of Block 1711, has significant experience in exploration and production as well as downstream operations and the construction and operation of power generating facilities. They will be a key partner as we move forward in Block 1711. Universal has a 2.7% carried interest in this block meaning the Company does not have to pay for any costs of exploration and has a carried interest to production on the entire PEL Block 1711. This discovery confirms that our business plan is correct and we are acquiring oil and gas interests in a prospective area that we believe could become a significant producer of hydrocarbons.”

Namibian Assets
On February 26, 2008 Universal entered into a partnership with Kunene Energy (Pty) Ltd (“Kunene Energy”) a Namibian Black Economic Empowerment (“BEE”) company, founded by Mr. Knowledge Katti a local businessman and director of Universal. Kunene Energy is well positioned to assemble strategic interests in high-profile African oil and gas projects. Upon completion of the Kunene Energy acquisition announced last month, the Company will have a 2.7% carried interest in Block 1711 and a 90% working interest in Block 2713A&B. Both concessions are off-shore Namibia, Africa. In addition, the Company has recently signed an LOI to acquire a 30% carried interest in block 2815 located off-shore Namibia, Africa.

The 2713 and 2815 Blocks are located in the Orange Basin, adjacent to the Kudu gas fields with an estimated reservoir of 3 TCF.

The government of Namibia has classified Kunene No. 1 as a "tight hole," meaning no information regarding the well may be released until such time as the Namibian government determines to make the information public.

About Universal Power Corp.
Universal Power Corp. and its BEE partner are positioned as an emerging exploration and production junior listed on the TSX Venture Exchange and the FSE Open Market. The Company’s mission is to deliver significant share appreciation through the discovery, exploration and production of fossil fuel energy and uranium.


Media file

Universal Exercises Options to Increase Ownership in Kunene Energy

VANCOUVER, B.C. –Universal Power Corp. TSXV: UNX FSE: 3U2A (the “Company”) announced today that its wholly owned subsidiary Cabanas Business Group Ltd (“Cabanas”) will be exercising options to increase ownership in Kunene Energy (Pty) Ltd (“Kunene”) by a further 70% following which, Cabanas will hold 90% of all the issued and outstanding shares in the capital of Kunene. The completion of the option exercise will allow Universal to proceed with work expenditures on Blocks in which Kunene holds an interest. Closing of the acquisition is subject to TSX Venture Exchange (“TSX-V”) approval.

Terms 

Pursuant to the terms of the three Option Agreements each dated September 06, 2007 Cabanas will acquire the additional 70% of all the issued and outstanding shares in Kunene from Philco Forty Four (Pty) Ltd, Philco Forty Five (Pty) Ltd and Philco Fifty Ltd. The total cost of the 3 options is $5.6 million US and the Company will pay consideration as follows; $1.5 million US cash, incur $2 million US in work expenditures, issue three million common shares in the capital of the Company at a deemed price of $0.70 US per share and issue three million common share purchase warrants ( the “Warrants”).  Each Warrant entitles the holder thereof to acquire one (1) common share in the capital of the Company at an exercise price of $0.70 per share at any time until January 17, 2010.   

Namibian Assets
Upon completion of the acquisition, the Company will have a  2.7% carried interest in Block 1711 and a 90% working interest in Block 2713A&B through its investment in Kunene Energy (Pty) Ltd. (“Kunene”) Both concessions are off-shore Namibia, Africa. In addition, the Company has recently signed an LOI to acquire a 30% carried interest in block 2815 located off-shore Namibia, Africa.

Sintezneftegaz, the operator of the Kunene No. 1 well on Block 1711 offshore Namibia has advised drilling operations are continuing beyond the originally proposed targeted depth of 4,400 meters.  The government of Namibia has classified Kunene No. 1 as a "tight hole," meaning no information regarding the well may be released until such time as the Namibian government determines to make the information public.

 

About Universal Power Corp.
Universal Power Corp. is an emerging exploration and production junior listed on the TSX Venture Exchange and the FSE Open Market. The Company’s mission is to deliver significant share appreciation through the discovery, exploration and production of fossil fuel energy and uranium.

The TSX Venture Exchange has not reviewed and does not accept responsibility of the adequacy or accuracy of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS
Barry Swanson, Director & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Email:               barry@universalpower.ca
Telephone:        (778) 997-4925

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Universal Power Corp. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, changes in business strategy, regulatory requirements, demand for our resources, competition and dependence on key personnel. These risks, as well as others, could cause actual results and events to vary significantly. Universal Power Corp. does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.


Media file

Universal to Acquire a 30% Carried Interest in Off-Shore Namibian Oil and Gas Exploration Licence

VANCOUVER, B.C. –Universal Power Corp. TSXV: UNX FSE: 3U2A (the “Company”) announced today that it has entered into a Letter of Intent (“LOI”) to acquire a 30% carried interest in Petroleum Exploration Licence (“EL”) 2815 off – shore Namibia. The Company will pay US $1,500,000 for the interest upon completion of due diligence and TSX Venture Exchange (“TSX-V”) approval.

 

Under the terms of the LOI, the Company will purchase from Cumoxi Investments (Proprietary) Limited (“Cumoxi”) 30% of the issued and outstanding common shares of Namibia Industrial Development Group (Pty) Ltd, (“NIDG”). NIDG has the oil and gas exploration licence to explore block number 2815 and the off-shore portions of blocks 2816 and 2915 Namibia, dated 22 September 2006 issued to NIDG by the Commissioner for Petroleum Affairs: Ministry of Mines and Energy, Namibia. According to the Shareholders agreement, Cumoxi’s 30% interest is carried to production. Cumoxi is a Namibian company controlled by Mr. Knowledge Katti, who is a director of the Company.

 

About Block 2815
EL 2815 covers an area of about 10,858 square kilometers situated directly east of the proven Kudu Gas Field and slightly north of the Orange Basin, offshore Namibia.  The block is located along the Namibian border with South Africa where there is a large market for natural gas and the planned development of a natural gas processing plant. The concession was previously owned by Chevron (Namibia) 40%, Shell Namibia 40% and Energy Africa Namibia 20%.

Historical work on block 2815 includes a modern seismic survey over approximately 50% of the block and minimal drilling.  The Company plans to evaluate the existing data and to work with the block operator in attracting third parties to participate in drilling.

Terms
Pursuant to the terms of the LOI dated June 23, 2008 the Company will acquire from Cumoxi, 30% of all the issued and outstanding securities in the capital of  NIDG which currently holds the licence to explore EL 2815. As consideration for the 30% of NIDG, the Company will pay Cumoxi $1,500,000 of which $300,000 has been paid in the form of a refundable deposit. 

Other Namibian Assets
The Company also has a  2.7% carried interest in Block 1711 and a 100% working interest in Block 2713A&B through its investment in Kunene Energy (Pty) Ltd. (“Kunene”) The Company currently owns 20% of Kunene and has the option to increase that ownership to 90%. The partners on Block 1711 are currently drilling the Kunene well with an initial target depth of 4400 meters. 

About Universal 
Universal Power Corp. is an emerging exploration and production junior listed on the TSX Venture Exchange and the FSE Open Market. The Company’s mission is to deliver significant share appreciation through the discovery, exploration and production of fossil fuel energy and uranium.

The TSX Venture Exchange has not reviewed and does not accept responsibility of the adequacy or accuracy of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS
Barry Swanson, Director & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Email:               barry@universalpower.ca
Telephone:        (778) 997-4925

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Universal Power Corp. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, changes in business strategy, regulatory requirements, demand for our resources, competition and dependence on key personnel. These risks, as well as others, could cause actual results and events to vary significantly. Universal Power Corp. does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.


Media file

Universal Closes Private Placement

VANCOUVER, B.C. – Universal Power Corp. TSXV: UNX FSE: 3U2A (the “Company”) announced today that it has closed the second and final tranche of its non-brokered private placement of up to 8,000,000 units previously announced on June 4, 2008. The offering was oversubscribed by 128,571 units and therefore, the total offering was 8,128,571 units.

Upon closing of the first tranche on June 11, 2008 the Company raised gross proceeds of $2,450,000 through the issuance of 7,000,000 units offered at a price of $0.35 per unit. Each unit consists of one common share and one-half of one non-transferable common share purchase warrant.  Each share purchase warrant entitles the holder to purchase one additional common share at $0.50 for a period of 24 months from closing.  In connection with the closing of the first tranche of the financing, the Company has paid a finder’s fee to Fraser Mackenzie Limited of $196,000 and has issued to the finder 560,000 warrants exercisable at $0.50 for a period of 24 months from closing.  The shares and warrants are subject to a TSX Venture Exchange hold period of four months and one day from closing.

Sprott Asset Management Inc purchased 5,714,350 units of the first tranche on behalf of certain Sprott funds and managed accounts.

Upon closing of the second tranche on June 13, 2008, the Company has raised gross proceeds of $395,000 through the issuance of 1,128,571 units offered at a price of $0.35 per unit.  Each unit consists of one common share and one-half of one non-transferable common share purchase warrant.  Each share purchase warrant entitles the holder to purchase one additional common share at $0.50 for a period of 24 months from closing. The shares and warrants are subject to a TSX Venture Exchange hold period of four months and one day from closing.

The net proceeds of the offering will be used by the Company for general working capital and to complete acquisitions for the Company’s oil and gas prospects in Namibia, Africa.

 About Universal 

Universal Power Corp. is an emerging exploration and production junior listed on the TSX Venture Exchange and the FSE Open Market. The Company’s mission is to deliver significant share appreciation through the discovery, exploration and production of fossil fuel energy and uranium.

The TSX Venture Exchange has not reviewed and does not accept responsibility of the adequacy or accuracy of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS
Barry Swanson, Director & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Email:               barry@universalpower.ca
Telephone:        (778) 997-4925

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Universal Power Corp. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, changes in business strategy, regulatory requirements, demand for our resources, competition and dependence on key personnel. These risks, as well as others, could cause actual results and events to vary significantly. Universal Power Corp. does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.


Media file

Universal Closes First Tranche of Private Placement

VANCOUVER, B.C. – Universal Power Corp. TSXV: UNX FSE: 3U2A (the “Company”) announced today that it has closed the first tranche of its non-brokered private placement of up to 8,000,000 units previously announced on June 4, 2008. The second and final tranche of the financing will be completed this week.

Upon closing of the first tranche the Company has raised gross proceeds of $2,450,000 through the issuance of 7,000,000 units offered at a price of $0.35 per unit. Each unit consists of one common share and one-half of one non-transferable common share purchase warrant.  Each share purchase warrant entitles the holder to purchase one additional common share at $0.50 for a period of 24 months from closing.  In connection with the closing of the first tranche of the financing, the Company has paid a finder’s fee to Fraser Mackenzie Limited of $196,000 and has issued to the finder 560,000 warrants exercisable at $0.50 for a period of 24 months from closing.  The shares and warrants are subject to a TSX Venture Exchange hold period of four months and one day from closing.

Sprott Asset Management Inc has purchased 5,714,350 units on behalf of certain Sprott funds and managed accounts.

The net proceeds of the offering will be used by the Company for general working capital and to complete acquisitions for the Company’s oil and gas prospects in Namibia, Africa.

 About Universal 
Universal Power Corp. is an emerging exploration and production junior listed on the TSX Venture Exchange and the FSE Open Market. The Company’s mission is to deliver significant share appreciation through the discovery, exploration and production of fossil fuel energy and uranium.

The TSX Venture Exchange has not reviewed and does not accept responsibility of the adequacy or accuracy of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS
Barry Swanson, Director & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Email:               barry@universalpower.ca
Telephone:        (778) 997-4925

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Universal Power Corp. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, changes in business strategy, regulatory requirements, demand for our resources, competition and dependence on key personnel. These risks, as well as others, could cause actual results and events to vary significantly. Universal Power Corp. does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.


Media file

Universal Announces Private Placement of up to $2,800,000

VANCOUVER, B.C. – Universal Power Corp. TSXV: UNX FSE: 3U2A (the “Company”) wishes to announce that it proposes to complete a non-brokered private placement (the “Offering”) for the sale of up to 8,000,000 units at a price of $0.35 per unit for gross proceeds of up to $2,800,000. Each unit will consist of one common share and one half of one transferable share purchase warrant.  Each whole share purchase warrant entitles the holder to purchase one additional common share of the Company for a period of 24 months from the date of the closing of the Offering at a price of $0.50 per share.  The Company has agreed to pay Fraser MacKenzie Limited a 8% cash finder's fee and a 8% compensation warrant fee in connection with part of the Offering.  The net proceeds of the Offering will be used for the Company's general working capital and its planned exploration programs.  The Offering is expected to close on Tuesday, June 10, 2008 and is subject to TSX Venture Exchange Approval

 About Universal 

Universal Power Corp. is an emerging exploration and production junior listed on the TSX Venture Exchange and the FSE Open Market. The Company’s mission is to deliver significant share appreciation through the discovery, exploration and production of fossil fuel energy and uranium.

For additional information on Universal Power Corp. please call Leo Karabelas, Investor Relations at First Canadian Capital Corp. 416-742-5600, email lkarabelas@firstcanadiancapital.com

The TSX Venture Exchange has not reviewed and does not accept responsibility of the adequacy or accuracy of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS
“Barry Swanson”
Barry Swanson, Director and CEO
www.universalpowercorp.ca  


Media file

Universal Provides Update on Kunene #1 Offshore Namibia

VANCOUVER, B.C. – Universal Power Corp. TSXV: UNX  FSE: 3U2A (“Universal”) or (the “Company”) announced today an update on progress at the Kunene #1 well on Block 1711 offshore Namibia. We understand that due to weather delays and mechanical issues, the well is now expected to reach a total depth of 4,400 meters sometime around the middle of June.

The Company’s subsidiary Kunene Energy (Pty) Ltd has a 3% carried interest in Block 1711.

The Republic of Namibia has classified the Kunene #1 as a "tight hole", meaning no information regarding the well may be released until such time as the Namibian government determines to make the information public.

For additional information on PEL 1711 and other Universal assets please call Leo Karabelas, Investor Relations at First Canadian Capital Corp. 416-742-5600, email lkarabelas@firstcanadiancapital.com

About Universal 
Universal Power Corp. is an emerging exploration and production junior listed on the TSX Venture Exchange and the FSE Open Market. The Company’s mission is to deliver significant share appreciation through the discovery, exploration and production of fossil fuel energy and uranium.

The TSX Venture Exchange has not reviewed and does not accept responsibility of the adequacy or accuracy of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS
“Barry Swanson”
Barry Swanson, Director and CEO
www.universalpowercorp.ca


Media file

Universal Closes Purchase of Namibian Oil & Gas Assets

April 22, 2008

VANCOUVER, B.C. – Universal Power Corp. TSXV: UNX  FSE: 3U2A (“Universal”) or (the “Company”) announced today that further to its news releases dated February 26th and March 24th 2008 the Company has now completed the initial 20% purchase of Kunene Energy (Pty) Ltd (“Kunene”).

Universal holds an option to increase its ownership in Kunene from 20% to 90%. The additional 70% will cost the Company $5,000,000 and consideration will be cash of $1,500,000 and shares for the balance. The Company has until September 15, 2008 to exercise this option.

Kunene is a Namibian BEE company founded by local businessman Knowledge Katti, and is positioned to hold strategic interests in high profile African oil and gas projects. Mr. Katti is also a director of Universal.

Kunene's most advanced project is Petroleum Exploration License 1711 in the Namibe Basin off the coast of Namibia. The operator and majority holder of Block 1711, Russia based Sintezneftegaz, has commenced drilling, targeting a multi-billion barrel oil and gas resource. Kunene has a 3% carried interest in Block 1711 and this interest is carried to production.

For additional information on PEL 1711 and other Universal assets please call Leo Karabelas, Investor Relations at First Canadian Capital Corp. 416-742-5600, email lkarabelas@firstcanadiancapital.com

About Universal
Universal Power Corp. is an emerging exploration and production junior listed on the TSX Venture Exchange and the FSE Open Market. The Company’s mission is to deliver significant share appreciation through the discovery, exploration and production of fossil fuel energy and uranium.

The TSX Venture Exchange has not reviewed and does not accept responsibility of the adequacy or accuracy of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS
“Barry Swanson”
Barry Swanson, Director and CEO
www.universalpowercorp.ca


Media file

Universal Granted Approval to Purchase Namibian Oil & Gas Assets

VANCOUVER, B.C. – Universal Power Corp. TSXV: UNX FSE: 3U2A (“Universal”) or (the “Company”) announced today that further to its news release dated February 26, 2008 the TSX Venture Exchange has accepted for expedited filing the transaction to purchase up to 90% of Kunene Energy (Pty) Ltd. The Company has completed its due diligence and will now proceed to close the acquisition. Summary of February 26 news release The Company has entered into a Letter of Intent (“LOI”) with Telpon Property Holdings Inc. (Telpon) to purchase up to 90% of all of the issued and outstanding shares in the capital of Kunene Energy (Pty) Ltd. ("Kunene") a Namibian oil and gas exploration and production company led by Mr. Knowledge Katti. The Company will pay Telpon $850,000 cash and will issue 1,500,000 shares and 1,500,000 share purchase warrants of the Company upon completion of due diligence and TSX Venture Exchange (“TSX-V”) approval. The LOI will establish a strategic partnership designed to exclusively position Universal with ownership in key Namibian oil and gas assets while allowing Kunene to access foreign capital to fuel growth. The partnership cooperates with proposed Namibian Black Economic Empowerment (“BEE”) initiatives through equity and project ownership in the Company. Barry Swanson, CEO of Universal stated “this acquisition is a major step for our company and shareholders as we move closer to our goal of becoming a successful global energy exploration and production company. The purchase of Kunene immediately gives us a carried interest in a potential multi-billion barrel oil and gas project (Block 1711) set to commence drilling next month plus two off-shore oil and gas concession blocks (2713 A&B) in the prolific Orange Basin. Furthermore, with our partner the Namibian BEE, we will work closely on developing future oil and gas projects in the country”. About Block 1711 Kunene holds a 3% carried interest in Petroleum Exploration License (“EL”) 1711, Sintezneftegaz, a Federation of Russia oil and gas company based in Moscow holds a 70% working interest, PetroSA, South Africa’s national oil company holds a 10% working interest, EnerGulf Resources Inc (TSXV:ENG) holds a 10% working interest and NAMCOR, the national oil company of Namibia holds a 7% carried interest. EL 1711 is located in the Namibe basin off the northern coast of Namibia along the international boundary with Angola. Two individual prospects, the Kunene and Hartmann have been identified by 3-D seismic along with other undeveloped leads. The syndicate is targeting a potential multi-billion barrel oil and gas resource with drilling scheduled to commence in March 2008. About Block 2713 A&B Kunene holds a 100% interest in EL 2713 A&B covering an area of about 10,000 square kilometers situated on the boundary between the Luderitz and the Orange Basins offshore Namibia. The block is located in proximity to Tullow’s proven Kudu Gas field and adjacent to ELs currently being explored by Hunt Oil and BHP. The blocks are partially covered with modern 2D seismic and especially the western 2713B. Kunene is planning to conduct 3-D seismic over the entire block with the objective of developing leads for future drilling programs. Kunene will seek partners interested to earn their interest by participating in drilling the leads. Terms Pursuant to the terms of the LOI dated February 25, 2008 the Company will acquire 100% of all the issued and outstanding securities in the capital of Cabanas Business Group Ltd ("Cabanas"), which owns 20% of all the issued and outstanding securities of Kunene. In addition, Cabanas has been granted the option to acquire an additional 70% interest in Kunene and if exercised, would give the Company a 90% interest in Kunene. As consideration for the 20% of Cabanas, the Company will be required pay Telpon $850,000 ($300,000 has been paid) and issue 1,500,000 common shares in the capital of the Company and 1,500,000 common share purchase warrants (the "Warrants"). Each Warrant entitles the holder thereof to acquire one (1) common share in the capital of the Company at an exercise price of $0.50 per share at any time until February 25, 2010. In addition, the Company will issue an aggregate of 100,000 common shares to an arm's length third party as a finder's fee. The common shares issued pursuant to the Acquisition are subject to a four month hold period.
Media file

Universal Adds Donald Sharpe to Board of Directors

VANCOUVER, B.C. – Universal Power Corp. TSXV: UNX FSE: 3U2A (“Universal”) or (the “Company”) announced today that Mr. Donald Sharpe has been appointed to the board of directors of the Company effective immediately.
Media file

Universal to Purchase Namibian Oil & Gas Assets

VANCOUVER, B.C. – Marketwire - Feb. 26, 2008) - Universal Power Corp. (TSX VENTURE:UNX)(FRANKFURT:3U2A) ("Universal") or (the "Company") announced today that it has entered into a Letter of Intent ("LOI") with Telpon Property Holdings Inc. (Telpon) to purchase up to 90% of all of the issued and outstanding shares in the capital of Kunene Energy (Pty) Ltd. ("Kunene") a Namibian oil and gas exploration and production company led by Mr. Knowledge Katti.
Media file

Universal Closes $3.4 Million Private Placement

VANCOUVER, B.C. – Universal Power Corp. TSXV: UNX FSE: 3U2A (the “Company”) announced today that it has closed the third and final tranche of its non-brokered private placement of up to 8,500,000 units previously announced on November 6, 2007.


Media file

Universal closes first and second tranches of private placement

VANCOUVER, B.C. – Universal Power Corp. TSXV: UNX FSE: 3U2A (the “Company”) announced today that it has closed the first and second tranche of its non-brokered private placement of up to 8,500,000 units previously announced on November 6, 2007. The third and final tranche of the financing will be completed next week.


Media file

Universal confirms Phase 1 work program based on promising 43 101 technical report

VANCOUVER, BC – Universal Power Corp. (TSX-V:UNX, FSE:3U2A) announced today that it has received a recently completed 43-101 compliant report for its Mbamba Bay project in Tanzania, Africa and confirms phase 1 exploration plans will begin in the coming weeks.
Media file

Work to Begin on Tanzanian Uranium Property

VANCOUVER, BC – Universal Power Corp. announced today exploration plans for its Mbamba Bay project in Tanzania, Africa.
Media file

Universal Announces Private Placement of up to $3,400,000

VANCOUVER, B.C. – Universal Power Corp. TSXV: UNX FSE: 3U2A (the “Company”) wishes to announce that it proposes to complete a non-brokered private placement (the “Offering”) for the sale of up to 8,500,000 units at a price of $0.40 per unit for gross proceeds of up to $3,400,000.
Media file

Universal provides Corporate Update

VANCOUVER, BC – Universal Power Corp. TSX-V:UNX, FSE:3U2A (formerly Universal Exploration Corporation) (the “Company”) announced today exploration plans for the Company’s three recently acquired projects in Africa and Canada.
Media file

Universal adds strength to Board of Directors

Vancouver, BC - Universal Power Corp. TSX-V:UNX, FSE:3U2A (formerly Universal Exploration Corporation) (“Universal” or the “Company”) announced today that effective immediately, Duane B. Parnham has joined the Company's Board of Directors.
Media file

Universal completes Great Bear IOCG property acquisition

VANCOUVER, BC – Universal Power Corp. TSX-V:UNX, FSE:3U2A (formerly Universal Exploration Corporation) (the “Company”) announced today that it has completed the property acquisition at Great Bear Lake, 430 kilometers north of Yellowknife in the North West Territories previously announced on August 30, 2007. Pursuant to the terms of the agreement, the Company has acquired a 100% interest for consideration of $100,000 in cash and the issuance of 1,500,000 common shares. The property is subject to a 2.0-per-cent net smelter return royalty. The company has the right to reduce the royalty to 1 per cent by paying $1-million. A finder's fee of $27,500 has been paid.
Media file

Universal Announces Grant of Stock Options

VANCOUVER, BC – Universal Power Corp. (the “Company”) is pleased to announce that it has granted incentive stock options to directors, officers, employees and consultants for the purchase of a total of 2,850,000 common shares of the Company at a price of $0.53 each until October 12, 2012. The options are being granted pursuant to the terms of the Company’s stock option plan.
Media file

Universal Signs Option Agreement to Acquire Over 1,287sq Kilometers of Uranium Property in Tanzania

VANCOUVER, B.C. – Universal Exploration Corporation (the “Company”) is pleased to announce that it has signed an option agreement (the “Option Agreement”) with Tanzmin Resources Inc. (“Tanzmin”) to earn the right to acquire up to a 90% interest in a land package totaling approximately 1,287 square kilometres located in the United Republic of Tanzania (the “Property”). The Company will pay Tanzmin $330,000 and will issue 400,000 shares upon completion of due diligence on the Property (including the preparation of a title opinion) and TSX Venture Exchange (“TSX-V”) approval.

Universal to Acquire Iron Oxide Copper/Gold/Silver Uranium Property at Great Bear Lake

VANCOUVER, B.C. - Universal Exploration Corporation (TSXV: UNX) (the "Company") wishes to announce that it has entered into a purchase agreement with Kalac Holdings Ltd. and Mountain Island Exploration Ltd. (the "Vendors") to acquire a 100-per-cent interest in certain properties located at Great Bear Lake in the Northwest Territories (the "Property"). The Property is located approximately 430 kilometers north of Yellowknife, NWT.

Universal Exploration Corporation Announces Private Placement of up to $500,000

VANCOUVER, B.C. - Universal Exploration Corporation (TSXV: UNX) (the "Company") wishes to announce that it proposes to complete a non-brokered private placement (the "Offering") for the sale of up to 2,000,000 units at a price of $0.25 per unit for gross proceeds of up to $500,000. Each unit will consist of one common share and one transferable share purchase warrant entitling the holder to purchase one additional common share of the Company for a period of 24 months from the date of the closing of Offering. The exercise price for the warrant will be $0.35 per share. The proceeds will be used for the Company's general working capital and its planned exploration programs. The Offering is subject to TSX Venture Exchange approval and the Company will pay the maximum allowable finder's fee in connection with the Offering.

Universal Closes Private Placement

VANCOUVER, BC - Universal Exploration Corporation (the "Company") is pleased to announce that further to its new release dated July 18, 2007, it has closed a private placement of 2,000,000 units (the “Units”) of the Company at $0.25 per Unit for gross proceeds of $500,000.