| Tue 6 Mar 2012, 9:46 | | MWNT - Mine Waste Solutions (Proprietary) Limited - First Uranium secured |
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JSE FUM MWNT
MWNT
MWNT - Mine Waste Solutions (Proprietary) Limited - First Uranium secured
convertible notes to trade interest flat following March 31, 2012 interest
payment
Mine Waste Solutions (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number 2000/1443/07)
(a wholly-owned subsidiary of First Uranium Corporation)
JSE code MWNT ISIN: ZAE000156261
FIRST URANIUM SECURED CONVERTIBLE NOTES TO TRADE INTEREST FLAT FOLLOWING
MARCH 31, 2012 INTEREST PAYMENT
TORONTO AND JOHANNESBURG - March 5, 2012 - Noteholders of Mine Waste
Solutions (Proprietary) Limited (JSE:MWNT) (ISIN: ZAE ZAE000156261)("the
Company or MWS") are referred to the announcement by First Uranium
Corporation (TSX: FIU) (JSE: FUM) (ISIN: CA33744R1029) ("FIU" or the
"Company") released earlier on Sens today informing Noteholders, inter alia,
that First Uranium has outstanding Secured Convertible Cdn $110 million Notes
due March 31, 2013 (the "Canadian Notes") issued pursuant to a Canadian note
indenture dated April 8, 2010 (the "Canadian Note Indenture") and Secured
Convertible ZAR 418.6 million Notes due March 31, 2013 (the "ZAR Notes" and
together with the Canadian Notes, the "Notes") issued by MWS pursuant to a
Rand note indenture dated April 23, 2010 (the "Rand Note Indenture" and
together with the Canadian Note Indenture, the "Note Indentures"). The
interest payment for the period from October 1, 2011 up to and including
March 31, 2012 will be paid in cash on April 2, 2012. In order to complete
the Transactions, First Uranium will hold a meeting of the Noteholders (and,
if required, the shareholders of FIU), with such securityholders required to
approve amendments to the Note Indentures to agree, inter alia, that no
interest will accrue after March 31, 2012, assuming the completion of the MWS
transaction. If the MWS transaction is not completed as announced, interest
obligations with respect to the Notes will be due and owing as currently
specified in the Note Indenture.
The Notes will trade on an interest flat basis from April 2, 2012.
For further information, please contact
John Hick or Mary Batoff
(416) 306-3072
mary@firsturanium.ca
Sponsor:Investec Bank Limited
06 March 2012
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,
including without limitation, the statements regarding the proposed
transactions with Gold One International Limited and AngloGold Ashanti Inc.
No assurance can be given that the Company will be successful in concluding
the proposed transactions and achieve the desired results. Accordingly,
readers should not place undue reliance on forward-looking statements that
are included herein, except in accordance with applicable securities laws.
Date: 06/03/2012 09:46:54 Produced by the JSE SENS Department.
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