| Tue 11 Sep 2012, 17:15 | | FIRST URANIUM CORPORATION - Initial Distribution to Shareholders |
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FUU 201209110047A
Initial Distribution to Shareholders
First Uranium Corporation
(Continued under the laws of Ontario, Canada)
(Registration number 2082276)
(South African registration number 2007/009016/10)
Share code: FUU ISIN: CA33744R5087
September 11, 2012
First Uranium announces Initial Distribution to Shareholders
Toronto and Johannesburg ? First Uranium Corporation (NEX:FIU.H), (JSE:FUU)
(ISIN:CA33744R5087) (?First Uranium? or ?the Corporation?) announces that it will make
an initial distribution (the ?Distribution?) on October 1, 2012 of Cdn$0.125 per unit to
shareholders of the Corporation in the form of a redemption of the Class A Special
Shares. Holders of the units (the ?Units?) of record as of the close of business on
September 28, 2012 (the ?Record Date?) will be entitled to receive the Distribution.
Each Unit is currently comprised of 100 Class A Special Shares and 1 Class B Common
Share. The Corporation will redeem pro rata 12.5 Class A Special Shares (the
?Redemption?) for every 100 of the Class A Special Shares of First Uranium held by each
shareholder on the Record Date at a price per Class A Special Share of Cdn$0.01 for a
total of Cdn$0.125 per Unit. Following the Redemption, each Unit will be comprised of
87.5 Class A Special Shares and 1 Class B Common Share. There will be no reduction in
the number of Units held by a shareholder as a result of the Redemption.
Holders of Units recorded on the register maintained by Computershare Investor
Services Proprietary Limited and traded on the JSE Limited will receive the Distribution in
South Africa rand at a price per Class A Special Share of ZAR0.08402 for a total of
ZAR1.05 per Unit.
Shareholders will receive the Distribution as a return of stated capital on the Class A
Special Shares. See the Management Information Circular dated May 4, 2012 for
additional information concerning certain Canadian federal income tax consequences of
the Distribution.
Shareholders will not be required to surrender share certificates representing the Units
in order to receive the Distribution. The Corporation, through its transfer agent, will
record the Redemption of Class A Special Shares on the Corporation's share register.
The details of the Redemption are summarized below:
ISIN of Units CA33744R5087
Security Units (each Unit is comprised of 100 Class
A Special Shares and 1 Class B Common
Share)
JSE Code FUU
Short name First Uranium
Redeemed Securities 12.5 Class A Special Shares for every 100
of the Class A Special Shares of First
Uranium held by each shareholder.
Amount of Distribution Cdn$0.01 per Class A Special Share, by
way of a redemption of 12.5 Class A
Special Shares for every 100 of the Class A
Special Shares of First Uranium held by
each shareholder for a total of Cdn$0.125
per Unit.
Last Date to Trade Cum Distribution on JSE Thursday, 20 September 2012
Shares to Trade Ex Distribution on JSE Friday, 21 September 2012
Record Date Friday, 28 September 2012
Payment Date Monday, 1 October 2012
For further information:
Mary Batoff: (416) 306-3072, mary@firsturanium.ca
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
Corporation'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 Corporation'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.com
Sponsor:
Investec Bank Limited
Date: 11/09/2012 05:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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