Uranium Focused Energy Fund announces normal course issuer bid

TORONTO, April 16, 2012 /CNW/ - Uranium Focused Energy Fund (the "Fund") announced today its intention to make a normal course issuer bid for its units through the facilities of the Toronto Stock Exchange (the "TSX").  This normal course issuer bid will commence on April 18, 2012 and will terminate on April 17, 2013.  In accordance with the Declaration of Trust by which the Fund is governed, market purchases pursuant to its normal course issuer bid may be effected by the Fund.

The Fund had 10,951,420 units issued and outstanding as at April 10, 2012.  Uranium may, during the 12 month period commencing April 18, 2012 purchase on the TSX up to 1,088,487 units, being 10% of the public float of 10,884,870 units and may not, in any 30 day period, purchase more than 219,028 units, being 2% of the units issued and outstanding.  Uranium will hold in treasury for resale all units purchased pursuant to the bid.  As at April 10, 2012 Uranium had purchased 105,400 units at an average price of $2.84 per unit under its previously approved normal course issuer bid.  Uranium believes that its units represent good value for the Fund and purchases under the normal course issuer bid may serve to enhance returns to unitholders.

The units of Uranium Focused Energy Fund trade on the Toronto Stock Exchange under the symbol "UF.UN".

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Nancy Tham
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