| Mon 3 May 2010, 9:17 | | UUU - Uranium One Inc - News Release - Uranium One acquires investment in |
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UUU
UUU
UUU - Uranium One Inc - News Release - Uranium One acquires investment in
Paladin
Uranium One Inc
(Incorporated in Canada)
(Registration number: 15096422420)
Share code on the JSE: UUU & ISIN: CA91701P1053
Share code on the TSX: UUU & ISIN: CA91701P1053
News Release
Uranium One Acquires Investment in Paladin
Vancouver, British Columbia and Johannesburg, South Africa - Uranium One
Inc. ("Uranium One" or the "Company") today confirmed that it has acquired
an investment in ordinary shares of Paladin Energy Ltd. ("Paladin"). The
share purchases were made through Uranium One`s 100% owned Luxembourg-based
subsidiary Cheetah Resources SARL.
The shares of Paladin were purchased for investment purposes. Uranium One
continually reviews its investment alternatives and may, from time to time,
acquire additional shares or dispose of its holdings of shares in Paladin.
About Uranium One
Uranium 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.
For further information, please contact:
Jean Nortier
Chief Executive Officer
Tel: +1 604 601 5642
Chris Sattler
Executive Vice President, Corporate Development and Investor Relations
Tel: + 1 416 350 3657
Cautionary Statement
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
Forward-looking statements: This press release contains certain forward-
looking statements. Forward-looking statements include but are not limited
to those with respect to the price of uranium, the estimation of mineral
resources and reserves, the realization of mineral reserve estimates, the
timing and amount of estimated future production, costs of production,
capital expenditures, costs and timing of the development of new deposits,
success of exploration activities, permitting time lines, currency
fluctuations, requirements for additional capital, government regulation of
mining operations, environmental risks, unanticipated reclamation expenses,
title disputes or claims and limitations on insurance coverage and the
timing and possible outcome of pending litigation. In certain cases, forward-
looking statements can be identified by the use of words such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate",
or "believes" or variations of such words and phrases, or state that certain
actions, events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved. Forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Uranium One to be materially
different from any future results, performance or achievements expressed or
implied by the forward-looking statements. Such risks and uncertainties
include, among others, changes in market conditions, the actual results of
current exploration activities, conclusions of economic evaluations, changes
in project parameters as plans continue to be refined, project cost overruns
or unanticipated costs or expenses, possible variations in grade and ore
densities or recovery rates, failure of plant, equipment or processes to
operate as anticipated, accidents, labour disputes or other risks of the
mining industry, exchange rate and uranium price fluctuations, delays in
obtaining government approvals or financing or in completion of development
or construction activities, changes in, and the effect of government policy,
the potential benefits relating to the investment described in this press
release, to international operations, to the price of uranium as well as
those factors referred to in the section entitled "Risk Factors" in Uranium
One`s Annual Information Form for the year ended December 31, 2009, which
is available on SEDAR at www.sedar.com, and which should be reviewed in
conjunction with this document. Although Uranium One has attempted to
identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no assurance
that forward-looking statements will prove to be accurate, as 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. Uranium One expressly disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except in accordance
with applicable securities laws.
For further information about Uranium One, please visit www.uranium1.com.
Sponsor
Nedbank Capital
3 May 2010
Date: 03/05/2010 09:17:01 Produced by the JSE SENS Department.
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