Uranium One Announces Signing of Coordination Agreement with ARMZ and Extension of Framework Agreement Governance Provisions

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[{"type":"text","content":"\n\n\n\n\n\nTORONTO, June 4, 2012 /CNW/ - Uranium One Inc. (\"Uranium One\") today\n announced that it has entered into a coordination and integration\n agreement with JSC Atomredmetzoloto (\"ARMZ\"), the holder of\n approximately 51% of Uranium One's outstanding common shares.\n\n\nThe coordination agreement sets out a framework for enhanced\n coordination and integration between the parties in six designated\n areas - Uranium One's growth and development strategy, financial\n reporting and budgeting, marketing and sales, geology and exploration,\n governmental relations and communication, and human resources.  The\n agreement is intended to ensure that the relationship of the parties is\n conducted in a manner consistent with maintaining Uranium One's status\n as an independent public issuer, with a continued commitment to\n governance best practices and the protection of minority shareholder\n interests.\n\n\nThe coordination agreement also extends the governance provisions of the\n amended and restated framework agreement between the parties dated June\n 8, 2010. As a result, the \"coat-tail\" provisions, the covenant of ARMZ\n to vote in favour of Uranium One's independent director nominees and\n ARMZ's obligations not to acquire additional Uranium One shares without\n Uranium One's consent, which would have otherwise expired this month,\n now remain in effect until December 4, 2013 subject to ARMZ's right to\n terminate the \"coat-tail\" and the voting covenant on 90 days' prior\n notice. The coordination agreement will continue in effect unless\n terminated by either party effective December 4, 2013 or on any\n subsequent anniversary of that date.\n\n\nAbout Uranium One\n\n\nUranium One is one of the world's largest publicly traded uranium\n producers with a globally diversified portfolio of assets located in\n Kazakhstan, the United States, Australia and Tanzania.\n\n\nCautionary Statement\n\n\nNo stock exchange, securities commission or other regulatory authority\n has approved or disapproved the information contained herein.  For\n further information about Uranium One, please visit www.uranium1.com.\n\n\n Chris Sattler Chief Executive Officer  Tel: +1 647 788 8500 Anton Jivov Director Corporate Development & Investor Relations  Tel: +1 647 788 8461 \n","length":2659,"tagName":"div"}]

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