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SXR
SXR
sxr Uranium One Announces Terms of 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
("Corporation")
sxr Uranium One Announces Terms of Equity Financing
Toronto, Ontario, and Johannesburg, South Africa -- sxr Uranium One Inc.
announced today that the brokered private placement of common shares announced
on January 13, 2006 has been increased in size from US $65 million to
approximately US $149 million (R911 million) and priced at Cdn $7.65 (R40,85)
per common share, for an aggregate issue of 22,300,000 common shares of the
Corporation. The price per common share represents a 2.3% discount to the five-
day volume weighted average price of the Corporation"s common shares on The
Toronto Stock Exchange.
The private placement is being conducted in Canada and internationally through a
syndicate of agents led by BMO Nesbitt Burns Inc. and the agents will receive a
cash commission equal to 5.5% of the gross proceeds. The offering is expected
to close on or about February 17, 2006.
Net proceeds of the offering will be used by the Corporation for 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, please contact:
Neal Froneman
Chief Executive Officer
Tel: + 27 11 482-3605
John Fraser
Corporate Communications
Tel: + 27 82 331 7330
Don Falconer
Vice President, Marketing &Investor Relations
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 risks 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.
NOT FOR DISTRIBUTION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
The TSX has neither approved nor disapproved of the information contained
herein.
Date: 07/02/2006 05:29:10 PM Produced by the JSE SENS Department
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