| Tue 12 Jun 2012, 7:10 | | FUM - First Uranium Corporation - Olma Investments Stratton Enterprises and |
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FUM
FIU
FUM - First Uranium Corporation - Olma Investments, Stratton Enterprises and
Patto Corporate Services to vote in favour of the proposed transactions
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
OLMA INVESTMENTS, STRATTON ENTERPRISES AND PATTO CORPORATE SERVICES TO VOTE IN
FAVOUR OF THE PROPOSED TRANSACTIONS
TORONTO AND JOHANNESBURG - June 11, 2012 - First Uranium Corporation (TSX: FIU)
(JSE: FUM) (ISIN: CA33744R1029) ("FIU" or the "Company") received the following
information by way of email today from Mr. Nick Betsky on behalf of Olma
Investment Firm, Stratton Enterprises Inc. and Patto Corporate Services,
"Dear Sirs:
RE : increase in the distribution to shareholders, as announced on June 6, 2012
In light of First Uranium Corporation`s ("Company") June 6, 2012 announcement of
the increased distribution to shareholders to the amount of US$75,9 million or
Cdn$0,33 per share, we plan to support the proposed transactions on June 13,
2012 GSM.
We still feel very strongly that the BOD, RBC and management have not acted in
the best interest of shareholders but due to the time constraints, at this point
we see no other choice but to vote YES.
As you are aware from April 30 letter from our legal counsel, we have commenced
preparation for the legal proceedings against the Board. Should the
distribution to the shareholders indeed amount to no less than Cdn$0,33, we
agree to discontinue legal actions against the Board.
Olma Investment Firm
Stratton Enterprises Inc
Patto Corporate Services"
The board of directors of FIU met today to determine whether to engage with
Kumvest (Pty) Ltd., which announced a highly conditional proposal on June 8,
2012. On the advice of financial and legal advisors, the board decided there is
no basis to proceed with this proposal.
If you have any questions about the information contained in the management
information circulars or require assistance with voting your securities, please
contact Kingsdale Shareholder Services Inc. by telephone at 1-866-581-1571 toll-
free in North America, or at 1-416-867-2272 outside of North America (collect
calls accepted), or by email at contactus@kingsdaleshareholder.com.
About First Uranium Corporation
First Uranium Corporation operates the Ezulwini Mine, an underground mining
operation, and Mine Waste Solutions, a tailings recovery facility. Both
operations are situated in South Africa.
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 Limited. Accordingly, readers should
not place undue reliance on forward-looking statements that are included herein,
except in accordance with applicable securities laws.
www.firsturanium.com
For further information:
John Hick or Mary Batoff
(416) 306-3072
mary@firsturanium.ca
12 June 2012
Date: 12/06/2012 07:10:03 Produced by the JSE SENS Department.
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