| Mon 20 Feb 2006, 9:24 | | sxr Uranium One Inc - sxr Uranium One Announces Cl |
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SXR
SXR
sxr Uranium One Inc - sxr Uranium One Announces Closing of Private Placement
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 Closing of Private Placement
TORONTO, ON and JOHANNESBURG, South Africa, Feb. 17 /CNW/ - sxr Uranium
One Inc. is pleased to announce the closing today of a private placement of
22,300,000 common shares of the Corporation, at a price of Cdn $7.65 per share
for aggregate gross proceeds of Cdn $170,595,000 (approximately US
$147,000,000). The private placement was conducted in Canada and
internationally by BMO Nesbitt Burns Inc., as lead agent, and a syndicate of
agents including RBC Dominion Securities, Sprott Securities Inc., Canaccord
Capital Inc., GMP Securities L.P., Orion Securities Inc., Barnard Jacobs
Mellet (USA) LLC, Toll Cross Securities Inc., Hargreave Hale Limited and
Paradigm Capital Inc.
Net proceeds of the offering will be used by the Corporation for
the development of the Rietkuil Dominion Uranium Project and for general
corporate purposes.
The common shares of sxr Uranium One Inc. are traded on the
Toronto and JSE Limited under the symbol "SXR".
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 use of proceeds, as well as 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.
The TSX has neither approved nor disapproved of
the information contained herein.
%SEDAR: 00005203E
For further information: 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: (416) 350-3657
John Fraser
Corporate Communications Manager
sxr Uranium One
Phone: +27 11 482 3605
Cell: +27 82 331 7330
Date: 20/02/2006 09:24:44 AM Produced by the JSE SENS Department
