| Fri 4 Feb 2011, 8:10 | | FUM - First Uranium Corporation - First uranium corporation announces filing of |
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FUM
FIU
FUM - First Uranium Corporation - First uranium corporation announces filing of
preliminary short form prospectus
First Uranium Corporation
(Continued under the laws of British Columbia, Canada)
(Registration number C0777384)
(South African registration number 2007/009016/10)
Share code: FUM ISIN: CA33744R1029
FIRST URANIUM CORPORATION
NEWS RELEASE - February 3, 2011
FIRST URANIUM CORPORATION ANNOUNCES FILING OF PRELIMINARY SHORT FORM PROSPECTUS
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 filed a preliminary short form prospectus in connection with a best efforts
offering of common shares (the "Offering"). The Offering is being made through
a syndicate of agents led by RBC Capital Markets and including Raymond James
Ltd., BMO Capital Markets, Macquarie Capital Markets Canada Ltd. and Paradigm
Capital Inc. (collectively, the "Agents"). The Company has granted the Agents an
over-allotment option to purchase additional common shares under the Offering,
exercisable by the Agents in whole or in part for a period of 30 days from the
closing date of the Offering.
The Company intends to use the net proceeds from the Offering to provide working
capital at the Ezulwini mine, for capital expenditures and rehabilitation work
for the Mine Waste Solutions project and for general corporate purposes.
Final pricing and determination of the number of common shares to be sold
pursuant to the Offering will be determined in the context of the market prior
to the filing of the final short form prospectus in respect of the Offering. The
common shares will be offered in all provinces of Canada except Quebec by way of
a short form prospectus and such other jurisdictions outside of Canada pursuant
to applicable private placement exemptions.
Closing of the Offering is subject to certain conditions including, but not
limited to, the execution of a definitive agency agreement with the Agents and
the receipt of conditional listing approval for the common shares to be sold
under the Offering by the Toronto Stock Exchange.
The securities have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, or under any state securities laws and may
not be offered or sold in the United States, absent registration or an
applicable exemption from the registration requirements. This news release does
not constitute an offer to sell or the solicitation of an offer to buy nor will
there be any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful.
About First Uranium Corporation
First Uranium Corporation (TSX:FIU, JSE:FUM) is focused on its goal of becoming
a low-cost producer of uranium and gold through the expansion of the underground
development to feed the new uranium and gold plants at the Ezulwini Mine and
through the expansion of the plant capacity of the Mine Waste Solutions (MWS)
tailings recovery facility, both operations situated in South Africa. First
Uranium also plans to grow production by pursuing value-enhancing acquisition
and joint venture opportunities in South Africa and elsewhere.
For further information, please contact:
Julian Gwillim, julian@aprio.co.za
Gail Strauss, gailstrauss@mweb.co.za
Sponsor:Investec Bank Limited
4 February 2011
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 are forward-looking statements (or forward-looking
information). The Company`s plans involve various estimates and assumptions and
its business and operations are subject to various risks and uncertainties. For
more details on these estimates, assumptions, risks and uncertainties, see the
Company`s most recent Annual Information Form and most recent Management
Discussion and Analysis on file with the Canadian provincial securities
regulatory authorities on SEDAR at www.sedar.com. 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.
www. firsturanium.comKatherine Kirkpatrick
Date: 04/02/2011 08:10:01 Produced by the JSE SENS Department.
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