| Thu 12 Feb 2009, 7:45 | | FUM - First Uranium Corporation Closes $61 500 000 Bought Deal Private |
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FUM
FIU
FUM - First Uranium Corporation Closes $61,500,000 Bought Deal Private
Placement Financing
First Uranium Corporation
(Continued under the laws of British Columbia, Canada)
(Registration number C0777384)
(South African registration number 2005/033680/07)
Share code: FUM & ISIN: CA33744R1029
NEWS RELEASE
FIRST URANIUM CORPORATION CLOSES $61,500,000 BOUGHT DEAL PRIVATE PLACEMENT
FINANCING
All amounts are in Canadian dollars unless otherwise noted.
This news release is intended for distribution in Canada only and is not
intended for distribution to United States newswire services or dissemination in
the United States.
Toronto and Johannesburg - First Uranium Corporation (TSX:FIU, JSE:FUM)
(ISIN:CA33744R1029) ("First Uranium" or the "Company") announced today that it
has completed its previously announced bought deal private placement of
20,500,000 Units of the Company at a price of $3.00 per Unit, for gross proceeds
of $61,500,000 (the "Offering"). Each Unit consists of one common share of First
Uranium (a "Unit Share") and one-half of one common share purchase warrant (each
full warrant, a "Warrant"), each Warrant being exercisable to acquire one common
share of First Uranium at a purchase price of $4.15 until February 11, 2011.
The syndicate for the Offering was led by Macquarie Capital Markets Canada Ltd.
and included RBC Dominion Securities Inc., Scotia Capital Inc. and National Bank
Financial Inc.
First Uranium will use the gross proceeds from the Offering to fund the
continued development of the Ezulwini Mine and the expansion of the Mine Waste
Solutions tailings recovery operation and for general corporate purposes.
This news release does not constitute an offer to sell or the solicitation of an
offer to buy any of the Company`s securities in the United States. The Company`s
securities have not been and will not be registered under the United States
Securities Act of 1933, as amended, (the "1933 Act") or any state securities
laws and may not be offered or sold within the United States or to U.S. persons
unless registered under the 1933 Act and applicable state securities laws or an
exemption from such registration is available.
About First Uranium Corporation
First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on the development of
its South African uranium and gold mines with the goal of becoming a significant
low-cost producer through the re-opening and underground development of the
Ezulwini Mine and the expansion of the Mine Waste Solutions tailings recovery
operation. First Uranium also plans to grow production by pursuing value-
enhancing acquisition and joint venture opportunities in South Africa and
elsewhere.
First Uranium Corporation
1240-155 University Avenue, Toronto, ON Canada M5H 3B7
www.firsturanium.com
FEBRUARY 11, 2009
Sponsor: Investec Bank Limited
For further information, please contact:
Bob Tait, VP Investor Relations
at 416 342-5639 (office), 416 558-3858 (mobile) or bob@firsturanium.ca
Cautionary Language Regarding Forward-Looking Information
This news release contains and refers to forward-looking information based on
current expectations. All other statements other than statements of historical
fact included in this release including, without limitation, statements
regarding processing and development plans and future plans and objectives of
First Uranium are forward-looking statements (or forward-looking information)
that involve various risks and uncertainties. These forward-looking statements
are made as of the date hereof and there can be no assurance that such
statements will prove to be accurate, such statements are subject to significant
risks and uncertainties, and actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements that are included
herein, except in accordance with applicable securities laws.
Date: 12/02/2009 07:45:02 Produced by the JSE SENS Department.
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employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
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