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Uranium One Receives Kazakh MINT Approval for the ARMZ Transaction and for the Conversion of its 2015 Convertible Debentures
Uranium One Receives Kazakh MINT Approval for the ARMZ Transaction and for the Conversion of its ...
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n Aug. 29, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nVANCOUVER and JOHANNESBURG, South Africa, Aug. 29 /CNW/ - Uranium One Inc. today announced that the Kazakh Ministry of Industry and New Technologies ("MINT") has formally approved the Company's purchase from JSC Atomredmetzoloto ("ARMZ") of ARMZ's interests in the Akbastau and Zarechnoye uranium mines.\nIn addition, Uranium One has received MINT approval for the issuance of the common shares underlying the C$ 260,000,000 aggregate principal amount of convertible debentures issued by the Company in March 2010.\nAs previously announced, as part of the Akbastau and Zarechnoye transaction ARMZ will also contribute US$ 610 million in cash to Uranium One, of which approximately US$ 479 million will be paid directly to shareholders (other than ARMZ) as a change of control premium after closing, by way of a special dividend of US$ 1.06 per share.\nThe transaction remains subject to Uranium One shareholder approval, including majority of minority approval, to be sought at a special meeting of shareholders to be held on August 31, 2010 in Vancouver, British Columbia.\nUranium One expects to close the transaction by the end of 2010, subject to the receipt of the remaining required regulatory approvals, including from the Kazakh Anti-Monopoly Commission, the Australian Foreign Investment Review Board and the U.S. Committee on Foreign Investment in the United States, which are expected to be received in due course, and to the satisfaction of usual and customary closing conditions.\n\nAbout Uranium One\n\nUranium One is one of the world's largest publicly traded uranium producers with a globally diversified portfolio of assets located in Kazakhstan, the United States, and Australia.\n\nCautionary Statement\n\nNo stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.\nInvestors are advised t...