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Energy Metals Securityholders Approve Arrangement with Uranium One
Energy Metals Securityholders Approve Arrangement with Uranium One.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\nTrading Symbols: SXR - Toronto Stock Exchange, JSE Limited (Johannesburg\n Stock Exchange)\n EMC - Toronto Stock Exchange; EMU - NYSE Arca\n\n\nTORONTO, VANCOUVER and JOHANNESBURG, July 31 /CNW/ - Uranium One Inc.\n("Uranium One") and Energy Metals Corporation ("EMC") are pleased to announce\ntoday that the securityholders of EMC have voted overwhelmingly to approve the\nproposed Plan of Arrangement with Uranium One. The transaction was approved by\n99.68% of the votes cast by shareholders and by 100% of the votes cast by\noptionholders, for approval by an aggregate of 99.73% of EMC securityholders\nvoting in person or by proxy at the meeting.\n\n\nUnder the terms of the Plan of Arrangement, EMC securityholders will\nreceive 1.15 Uranium One common shares for each EMC common share, and\n1.15 options to acquire Uranium One common shares for each option to acquire\nEMC common shares, held at the time of closing.\n\n\nThe acquisition of EMC by Uranium One has been cleared by the Committee\non Foreign Investments in the United States under the provisions of the\nExon-Florio Amendment to the Defense Production Act of 1950.\n\n\nPaul Matysek, EMC President and CEO commented:\n\n\n"Today's vote reflects the strong support our securityholders have shown\nfor this transaction. By combining with Uranium One, EMC securityholders will\ngain exposure to existing production and cash flow, while maintaining a\nsignificant interest in our portfolio of near-term production visible projects\nin the United States."\n\n\nNeal Froneman, President and CEO of Uranium One commented:\n\n\n"We are extremely pleased to see this overwhelming approval for the\ntransaction. The addition of EMC's assets to those of Uranium One will enhance\nUranium One's status as a geographically diversified emerging senior uranium\nproducer with an unrivalled production growth profile."\n\n\nAn application to the Supreme Court of British Columbia for a final court\norder approving the Plan of Arrangement is scheduled for August 3, 2007. The\ntransaction is expected to close on or about August 10, 2007.\n\n\nAbout Uranium One\n\n\nUranium One Inc. is a Canadian-based uranium producing company with a\nprimary listing on the Toronto Stock Exchange and a secondary listing on the\nJSE Limited (the Johannesburg stock exchange). The ...