April 16, 2010 (FinancialWire) — Uranium International Corp. (OTCBB: URNI) said it has completed a non-brokered private placement financing involving the sale of 4.1 million units at a subscription price of $0.50 per unit, for gross proceeds of $2.05 million.

Each unit is comprised of one common share and one-half of one non-transferable common stock purchase warrant, with each such whole warrant being exercisable for one additional common share of the company at an exercise price of $1 per for a period of one year from closing.

Uranium International said that the net proceeds will be used to fund the company’s initial obligations under a definitive option agreement with Mercer Gold Corp., under which Mercer has formally granted to Uranium International an exclusive option to acquire all of Mercer's current underlying option interests under a certain option agreement pursuant to which Mercer has been granted an option to acquire a 100% legal, beneficial and registerable interest in and to certain mineral property concession interests which are located in the Municipality of Marmato, Colombia, and which are better known and described as the "Guayabales" property.

Guayabales is a gold and silver property located in Marmato, Caldas, Colombia. Colorado-based Uranium International is a mining exploration company with a group of early stage uranium projects around the world.

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