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SXR
SXR
sxr Uranium One Inc. - Announces New Share Issue
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")
Not for distribution to U.S. news wire services or dissemination in
the United States.
Johannesburg: October 12, 2006. sxr Uranium One Inc. ("Uranium
One") (TSX:SXR, JSE: SXR) announced yesterday that it has entered
into an agreement to sell to a syndicate of underwriters led by BMO
Capital Markets, on a bought deal basis, 18,100,000 Common Shares
from the Company and sell to the public at a price of C$8.30
(ZAR56.21) per Common Share, representing an aggregate amount of
C$150,230,000 (ZAR1 017 401 000). Uranium One has granted the
Underwriters an over-allotment option to purchase additional Common
Shares up to 15% of the purchased Common Shares at the same price,
exercisable by the Underwriters for a period of 30 days from
Closing. Closing is expected on or about October 31, 2006.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration or an applicable exemption
from the registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any State in which
such offer, solicitation or sale would be unlawful.
About sxr Uranium One
sxr Uranium One Inc. is a Canadian uranium and gold resource
company with a primary listing on the Toronto Stock Exchange and a
secondary listing on the JSE Limited. The Corporation owns the
Dominion Uranium Project in South Africa and the Honeymoon Uranium
Project in South Australia, and is actively pursuing growth
opportunities in the uranium sector in the western United States.
The Corporation holds an approximate 71% interest in Aflease Gold
Limited, which owns the Modder East gold project in South Africa.
Through a joint venture
with Pitchstone Exploration Ltd., the Corporation is also engaged
in uranium exploration activities in the Athabasca Basin of
Saskatchewan.
Cautionary Statement
Statements in this release that are not historical facts are
"forward-looking statements" involving 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.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein. To receive the Corporation"s news releases by email, please
register on Uranium One"s website
at www.uranium1.com
FOR FURTHER INFORMATION PLEASE CONTACT:
SXR Uranium One Inc.
Jean Nortier
Chief Financial Officer
+ 27 11 482 3605
or
SXR Uranium One Inc.
Chris Sattler
Vice President, Investor Relations
(416) 350-3657
Date: 12/10/2006 09:16:21 AM Produced by the JSE SENS Department
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