| Thu 12 Feb 2009, 10:55 | | SIM - First Uranium Closes $61 5m Bought Deal Private Placement Financing |
|
SIM FUM
SIIF
SIM - First Uranium Closes $61,5m Bought Deal Private Placement Financing
Simmer & Jack Mines, Limited
(Incorporated in the Republic of South Africa)
(Registration number 1924/007778/06)
Share code: SIM ISIN Code: ZAE00006722
("Simmers" or "the Company")
FIRST URANIUM CLOSES $61,500,000 BOUGHT DEAL PRIVATE PLACEMENT FINANCING
Johannesburg - Simmer & Jack Mines. Limited ("Simmers") (JSE:SIM ZAE00006722)
announced today that its gold and uranium subsidiary, First Uranium Corporation
(TSX:FIU, JSE:FUM, CA33744R1029:ISIN) ("First Uranium") has completed its
previously announced bought deal private placement of 20,500,000 Units of First
Uranium at a price of Cd$3.00 per Unit, for gross proceeds of Cd$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 Cd$4.15 until 11 February 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.
The completion of the placement reduces Simmers` holding in First Uranium from
its current 62.36% to 53.93%.
Simmers shareholders are referred to First Uranium`s SENS announcement dated 11
February 2009 or the First Uranium website for further details -
www.firsturanium.com
Johannesburg
12 February 2009
SPONSOR
Sasfin Capital
a division of Sasfin Bank Limited
Date: 12/02/2009 10:55:02 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
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,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
