Canadian Money $$ in Local Mining Venture

The Canadian Connection?

(Following is from http://rudeclerk.blogspot.com/ )

"Wednesday, October 17, 2007

Canadian Buy in Virginia Uranium
Update: Are Virginia Beach residents stakeholders? I neglected to reference the related uranium enrichment article from the Register Bee:
Virginia Beach, which gets one-third of its drinking water from Lake Gaston and other bodies of water that are fed from the same watershed where potential uranium leaching could occur, could be affected by uranium mining in Pittsylvania County if safety measures don’t measure up.Virginia Uranium Inc. (VUI) owns 100% interest in the Coles Hill deposit in Pittsylvania County, the largest undeveloped uranium deposits in the United States.Canadian firm Aberdeen International Inc. has announced its bet on VUI:
As part of a $19,000,000 private placement by VUI, Aberdeen International has acquired 666,667 Special Warrants priced at $1.50, for an aggregate investment of $1,000,000. Each Special Warrant entitles Aberdeen to acquire one common share of VUI for no additional consideration. In the event that VUI does not complete an IPO by the date that is four months following the closing of the financing, the Special Warrant shall be exercisable for 1.1 VUI common shares.
According to Aberdeen Chair, Stan Bharti, "Virginia has the potential to move to production relatively quickly as a source of domestic uranium supply not currently being met with other producers in the USA."
Aberdeen recent trading activity is interesting. Here's more from the article about Aberdeen International Inc.:
Aberdeen International Inc. is a publicly traded global investment and merchant banking company focused on small cap companies in the resource sector. Aberdeen will seek to acquire significant equity participation in pre-IPO and/or early stage public resource companies with undeveloped or undervalued high-quality resources. Aberdeen will focus on companies that: (i) are in need of managerial, technical and financial resources to realize their full potential; (ii) are undervalued in foreign capital markets; and (iii) operate in jurisdictions with moderate local political risk. Aberdeen will seek to provide value-added managerial and board advisory services to companies. The Company's intention will be to optimize the return on its investment over an 18 to 24 month investment time frame.
Posted by Kathy at 6:12 AM "