| Tue 12 Oct 2010, 14:00 | | UUU - Uranium One Inc - Uranium One Announces Change in Interest Rate for |
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UUU
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UUU - Uranium One Inc - Uranium One Announces Change in Interest Rate for
Convertible Debentures Due 2015
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
October 12, 2010
Uranium One Announces Change in Interest Rate for Convertible Debentures Due
2015
Vancouver, British Columbia and Johannesburg, South Africa - Uranium One Inc.
today announced that the interest rate payable on the C$260 million aggregate
principal amount of convertible debentures issued by the Company in March 2010
will be re-set effective October 12, 2010 from 7.5% to 5.0%. The re-set follows
receipt of the Kazakh regulatory approval and delivery to the indenture trustee
of the related legal opinion required under the debenture trust indenture for
exercise of the conversion feature to become effective.
As of October 12, 2010 the debentures will be convertible into common shares of
Uranium One at the option of the holder at a conversion price of C$4.00 per
share, subject to any conversion price adjustments provided for under the terms
of the trust indenture, including the adjustment to be made as a result of the
US$1.06 special dividend to be paid following initial closing of the ARMZ
transaction announced by the Company on June 8, 2010.
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.
Investors are advised to refer to independent technical reports containing
detailed information with respect to the material properties of Uranium One.
These technical reports are available under the profiles of Uranium One Inc and
UrAsia Energy Ltd. at www.sedar.com. Those technical reports provide the date of
each resource or reserve estimate, details of the key assumptions, methods and
parameters used in the estimates, details of quality and grade or quality of
each resource or reserve and a general discussion of the extent to which the
estimate may be materially affected by any known environmental, permitting,
legal, taxation, socio-political, marketing, or other relevant issues. The
technical reports also provide information with respect to data verification in
the estimation.
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, the completion of the
transactions described in this press release, the future steady state production
and cash costs of Uranium One, the actual results of current exploration
activities, conclusions of economic evaluations, changes in project parameters
as plans continue to be refined, 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,
delays in obtaining government approvals or financing or in completion of
development or construction activities, risks relating to the integration of
acquisitions and the realization of synergies relating thereto, to international
operations, to prices 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 and Management Information Circular dated August 3,
2010, each of 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
12 October 2010
Date: 12/10/2010 14:00:01 Produced by the JSE SENS Department.
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