| Tue 28 Dec 2010, 9:49 | | UUU - Uranium One Inc - News Release |
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UUU
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UUU - Uranium One Inc - News Release
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
December 28, 2010
Uranium One Completes ARMZ Transaction
Vancouver, British Columbia and Johannesburg, South Africa - Uranium One Inc.
("Uranium One") is today pleased to announce that it has completed the second
closing of its transaction with JSC Atomredmetzoloto ("ARMZ"), comprising the
issuance of 178,127,164 new common shares of Uranium One to ARMZ in return for
ARMZ`s 50% interest in the Akbastau Uranium Mine and 49.67% interest in the
Zarechnoye Uranium Mine. ARMZ currently holds 492,217,929 common shares,
representing 51.4% of the outstanding common shares.
This completes the ARMZ transaction previously announced on June 8, 2010, under
which Uranium One acquired ARMZ`s interests in the Akbastau and Zarechnoye mines
and ARMZ contributed US$610 million in cash to Uranium One in return for 356
million new common shares of Uranium One pursuant to a definitive purchase and
subscription agreement with ARMZ.
2010 Debentures
For the information of debentureholders, this is to confirm that at the opening
of trading on Friday, December 31, 2010, the Toronto Stock Exchange will re-
commence quoting the 7.5% (re-set to 5%) convertible unsecured subordinated
debentures of the Company due March 13, 2015 on an "accrued interest" basis.
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.
For further information about Uranium One, please visit www.uranium1.com.
Sponsor
Nedbank Capital
Date: 28/12/2010 09:49:01 Produced by the JSE SENS Department.
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