Business
Uranium One Provides Update on ARMZ Offer for Mantra Resources
Mar. 16, 2011 (Canada NewsWire Group) -- VANCOUVER, BRITISH COLUMBIA AND JOHANNESBURG, SOUTH ...
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n Mar. 16, 2011 (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, BRITISH COLUMBIA AND JOHANNESBURG, SOUTH AFRICA, March 16\n /CNW/ - Uranium One Inc. ("Uranium One") today announced that JSC\n Atomredmetzoloto ("ARMZ") has notified Mantra Resources Limited\n ("Mantra") that ARMZ believes that the recent serious events at the\n nuclear power plant in Fukushima, Japan are likely to have a material\n adverse effect on the business, results of operations, assets or\n liabilities, financial position or prospects of Mantra.  As such, ARMZ\n considers that the condition precedent in the Scheme Implementation\n Agreement dated December 15, 2010 between ARMZ and Mantra relating to a\n material adverse change is not capable of being satisfied.\n\n\nARMZ has indicated to Mantra that it intends to continue discussions\n with Mantra in an effort to explore how the transaction between two\n companies may proceed by way of an alternative approach.\n\n\nUranium One will provide further updates as additional information\n becomes available.\n\n\nUranium One and ARMZ are parties to a definitive put/call agreement\n entered into concurrently with the Scheme Implementation Agreement\n under which Uranium One has the right to acquire from ARMZ, and ARMZ\n has the right to sell to Uranium One, all of the shares of Mantra for\n consideration equal to ARMZ's acquisition cost plus certain additional\n expenditures. \n\n\nAbout Uranium One\n\n\nUranium O...