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SXR
SXR
sxr Uranium One Inc - Uranium One Announces Equity Financing
SXR Uranium One Inc
(Formerly Southern Cross Resources Inc)
(Incorporated in Canada)
(Registration number: 15096422420)
Share code on the JSE: SXR ISIN: CA87112P1062
Share code on the TSX: SXR ISIN: CA87112P1062
("SXR")
NEWS RELEASE
January 13, 2006 Toronto, Ontario
Uranium One Announces Equity Financing
Toronto, Ontario, and Johannesburg, South Africa -- sxr Uranium One Inc.
announced today that it has engaged BMO Nesbitt Burns Inc. as lead agent in
connection with a best efforts, brokered private placement of common shares with
anticipated gross proceeds of approximately US $65 million. In addition, sxr
Uranium One Inc. has granted an option to the agents to offer up to an
additional US $20 million in common shares.
The offering will be conducted in Canada and internationally through a syndicate
of underwriters led by BMO Nesbitt Burns Inc. and including RBC Capital Markets
Inc., Sprott Securities Inc., GMP Securities Inc., Canaccord Capital
Corporation, Orion Securities Inc., Barnard Jacobs Mellet, Toll Cross Securities
Inc., Paradigm Capital Inc. and Hargreave, Hale Ltd. Net proceeds of the
offering will be used by the Corporation to fund the development of the Dominion
uranium project and for general corporate purposes. Completion of the offering
is subject to certain conditions, including the approval of The Toronto Stock
Exchange.
For further information about Uranium One., please contact:
Neal Froneman John Fraser Don Falconer
Chief Executive Officer Corporate Communications Vice President, Marketing
&Investor Relations
Tel: + 27 11 482-3605 Tel: + 27 82 331 7330 Tel: +1 416 350-3657
Cautionary note concerning forward-looking statements: Certain of the
information contained in this news release constitutes "forward-looking
statements". Such forward-looking statements include the Corporation"s
expectations related to the completion of the private placement and the use of
proceeds, as well as regulatory approval and market fluctuations. Forward-
looking statements are not statements of historical fact and involve known and
unknown risk and uncertainties which are beyond the ability of the Corporation
to control or predict and which could cause actual events or results to differ
materially from those anticipated in such forward-looking statements.
Notice to Investors: This announcement does not constitute an offer to sell or
an invitation to purchase or subscribe for any securities. The securities
offered have not been and will not be registered under the Securities Act of
1933, as amended (the "U.S..Securities Act") and may not be offered or sold in
the United States absent registration or an applicable exemption from the
registration requirements of the U.S. Securities Act and applicable state
securities laws. Any public offering of securities to be made in the United
States will be made by means of a prospectus that may be obtained from the
issuer or selling security shareholder and that will contain detailed
information about the Corporation and management, as well as financial
statements.
Date: 16/01/2006 08:37:32 AM Produced by the JSE SENS Department
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