Business
Uranium One Completes Initial Closing of ARMZ Transaction
Uranium One Completes Initial Closing of ARMZ Transaction
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n Nov. 26, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER and JOHANNESBURG, South Africa, Nov. 26 /CNW/ - Uranium One\n Inc. ("Uranium One") is pleased to announce that it has completed the\n initial closing of its transaction with JSC Atomredmetzoloto ("ARMZ"),\n comprising the issuance of 178,127,165 new common shares of Uranium One\n to ARMZ in return for US$610 million in cash. ARMZ currently holds\n 314,090,765 common shares representing 40.85% of the outstanding common\n shares.\n\n\nAs previously announced on June 8, 2010, Uranium One entered into a\n definitive purchase and subscription agreement with ARMZ under which\n Uranium One would acquire ARMZ's 50% interest in the Akbastau Uranium\n Mine ("Akbastau") and its 49.67% interest in the Zarechnoye Uranium\n Mine ("Zarechnoye") and ARMZ would also contribute US$610 million in\n cash to Uranium One in return for 356 million new common shares of\n Uranium One. \n\n\nThe second closing, comprising the acquisition of ARMZ's interests in\n the Akbastau and Zarechnoye mines in return for an additional\n 178,127,164 new common shares of Uranium One, is expected to be\n completed before the end of this year.  Following completion of the\n second closing, ARMZ will hold 492,217,929 of the then issued and\n outstanding shares of Uranium One, which will represent approximately\n 51% of the then issued shares.\n\n\nSpecial Dividend Declaration and Record Date\n\n\...