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SIM
SIIF
SIM - Simmer & Jack Mines, Limited - Closing of over-allotment option
Simmer & Jack Mines, Limited
(Incorporated in the Republic of South Africa)
(Registration number 1924/007778/06)
Share code: SIM & ISIN Code: ZAE000006722
First Uranium Corporation Announces Closing of Over-Allotment Option
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES
DESCRIBED HEREIN.
Simmer & Jack Mines, Limited ("Simmer & Jack") is pleased to announce that
First Uranium Corporation (the "Company") has completed the sale today of
4,350,000 common shares at a price of C$7.00 per common share pursuant to
the exercise in full of an over-allotment option (the "Over-Allotment
Option") by an underwriting syndicate led by RBC Capital Markets and
including Canaccord Capital Corporation, National Bank Financial, Inc., GMP
Securities L.P., Sprott Securities Inc., Orion Securities Inc., Raymond
James Ltd. and Wellington West Capital Markets Inc. (collectively, the
"Underwriters"). The Over-Allotment Option was granted by the Company to
the Underwriters in connection with the Company`s initial public offering
which was completed on December 20, 2006 (the "Offering"). The aggregate
gross proceeds to the Company from the Offering and the exercise of the
Over-Allotment Option are approximately C$233 million.
The net proceeds from the Offering and the exercise of the Over-Allotment
Option will be used by the Company primarily to fund the development of its
Ezulwini and Buffelsfontein projects in South Africa, including the
acquisition from a third party of certain surface and underground assets
relating to the Ezulwini mine. A portion of the net proceeds will also be
used to repay to Simmer & Jack Mines, Limited, the Company`s majority
shareholder, certain indebtedness incurred by it in respect of the Ezulwini
project.
The securities described herein have not been registered under the United
States Securities Act of 1933 (the "U.S. Securities Act"), as amended, and
may not be offered or sold in the United States unless registered under the
U.S. Securities Act or unless an exemption from registration is available.
This document may contain or refer to forward-looking information based on
current expectations. Forward-looking statements are subject to
significant risks and uncertainties, and other factors that could cause
actual results to differ materially from expected results. These forward-
looking statements are made as of the date hereof and we assume no
responsibility to update or revise them to reflect new events or
circumstances.
For more information on First Uranium Corporation, please contact Gordon
Miller, Chief Executive Officer, or Gail Strauss on +27 84 777 4060 or +27
11 830 0390.
Johannesburg
29 December 2006
Lead underwriter and South African Sponsor
manager to the IPO investment bank
RBC Capital Markets Investec Bank Sasfin Capital
Limited a division of Sasfin Bank
Limited
South African legal Canadian legal Reporting accountants
advisors advisors
Routledge Modise Fasken Martineau PriceWaterhouseCoopers
DuMoulin
Independent technical
consultants
Roscoe Postle
Associates
Date: 02/01/2007 07:00:02 Produced by the JSE SENS Department.
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