Cameco announces US$650 million bought deal offering of common shares

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[{"type":"text","content":" SASKATOON, Saskatchewan, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Cameco (TSX: CCO; NYSE: CCJ) today announced that it has entered into an agreement with a syndicate of underwriters led by CIBC Capital Markets and Goldman Sachs & Co. LLC, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 29,615,000 common shares of Cameco at a price of $21.95 per share (the “Offering Price”), for gross proceeds to us of approximately $650 million (the “Offering”). The common shares will be offered to the public in Canada and the United States. The Offering is expected to close on or about October 17, 2022, subject to customary closing conditions, including receipt of all necessary approvals of the Toronto Stock Exchange and the New York Stock Exchange. Additionally, we have granted the underwriters an option to purchase up to an additional 4,442,250 common shares at the Offering Price, exercisable in whole or in part at any time up to 30 days following the closing of the Offering, for potential additional gross proceeds to Cameco of approximately $97.5 million. We intend to use the aggregate proceeds from the Offering, after payment of fees and expenses, to partially fund our share of the acquisition of Westinghouse Electric Company, one of the world’s leading nuclear services businesses, through a strategic partnership with Brookfield Renewable Partners (“Brookfield Renewable”), together with Brookfield Renewable’s institutional partners (the “Acquisition”). CIBC Capital Markets and Goldman Sachs & Co. LLC are acting as joint bookrunners for the Offering. We intend to offer and sell the common shares in the U.S. pursuant to our effective shelf registration statement on Form F-10 (File No. 333-267625) (the “U.S. Registration Statement”) filed with the U.S. Securities and Exchange Commission (the “SEC”), and in Canada pursuant to our short form base shelf prospectus (the “Base Shelf Prospectus”), in each case, filed on September 26, 2022. A preliminary prospectus supplement relating to and describing the terms of the Offering was filed with the SEC and with the securities regulatory authorities in each of the provinces and territories of Canada as part of the U.S. Registration Statement and the Base Shelf Prospectus, respectively, and a final prospectus supplement will be filed in connection with the Offering. ...

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