Trading Symbol (TSXV: UUU and AIM: UUU)
VANCOUVER, April 13 /CNW/ - UrAsia Energy Ltd. ("UrAsia") announced today that it obtained the Final Order from the Supreme Court of British Columbia on April 12, 2007. UrAsia currently expects the proposed Plan of Arrangement with sxr Uranium One Inc. to become effective in the second half of April 2007, upon receipt of the remaining required government and regulatory approvals.
Under the terms of the Plan of Arrangement, UrAsia shareholders will receive 0.45 common shares of sxr Uranium One Inc. for each issued share of UrAsia.
Registered shareholders of UrAsia will be required to submit their share certificates and Letters of Transmittal to Pacific Corporate Trust Company prior to receiving the sxr Uranium One Inc. shares to which they are entitled upon completion of the Plan of Arrangement.
About UrAsia Energy
UrAsia is a Canadian-based uranium producer that offers investors exposure to low-cost uranium production and growth. The Company creates shareholder value by focusing on the development and operation of low-cost, in-situ leach uranium projects in Central Asia. UrAsia is listed on the TSX Venture Exchange and the Alternative Investment Market (AIM) of the London Stock Exchange, trading under the symbol UUU on both exchanges.
On behalf of UrAsia Energy Ltd.
"Phillip Shirvington"
President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking statements relating to the future performance of UrAsia Energy Ltd. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions.