Business
UrAsia Energy Shareholders Vote 99.89% in Favour of Acquisition by Uranium One
UrAsia Energy Shareholders Vote 99.89% in Favour of Acquisition by Uranium One.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\nTrading Symbol: SXR - Toronto Stock Exchange, JSE Limited (Johannesburg\n\n\nStock Exchange)\n\n\nTORONTO, ON and JOHANNESBURG, South Africa, April 5 /CNW/ - sxr Uranium\nOne Inc. ("Uranium One") is pleased to announce that the plan of arrangement\nunder which Uranium One will acquire all of the outstanding common shares of\nUrAsia Energy ("UrAsia") was overwhelmingly approved at a meeting of UrAsia\nshareholders held today in Vancouver, British Columbia. At the meeting,\napproximately 99.89% of the votes cast were voted in favour of the\narrangement. Under the terms of the arrangement, UrAsia shareholders will\nreceive 0.45 of a Uranium One share for each UrAsia share.\n\n\nUranium One's President and CEO Neal Froneman commented:\n\n\n"This will be a win-win transaction for both sets of shareholders, and we\nare delighted that the UrAsia shareholders have given their backing to the\ncombination. The new Uranium One will be a globally diversified, low cost\nuranium producer with combined conventional and ISL mining expertise that will\nposition us well to continue to create value for our shareholders."\n\n\nAn application to the Supreme Court of British Columbia for a final court\norder approving the arrangement is scheduled for April 12, 2007. Closing is\nexpected to occur in mid-April, subject to the receipt of all required\nregulatory approvals and the closing conditions described in more detail in\nUrAsia's management information circular dated March 9, 2007.\n\n\nAbout Uranium One\n\n\nUranium One Inc. is a Canadian uranium and gold resource company with a\nprimary listing on the Toronto Stock Exchange and a secondary listing on the\nJSE Limited (the Johannesburg stock exchange). The Corporation owns the\nDominion Reefs Uranium Mine in South Africa and the Honeymoon Uranium Project\nin South Australia, and is actively pursuing growth opportunities in the\nuranium sector in the United States and Central Asia. The Corporation holds a\nmajority interest in Aflease Gold Limited, which owns the Modder East Gold\nProject in South Africa. Through a 50/50 joint venture with Pitchstone\nExploration Ltd., the Corporation is also engaged in uranium exploration\nactivities in the Athabasca Basin of Saskatchewan.\n\n\nCautionary Statement\n\n\nNo stock exchange, securities commission or other regula...