TORONTO, Sept. 25, 2013 /CNW/ - Uranium One Inc. (the "Corporation") today announced that all required regulatory approvals have now been received to complete the arrangement agreement between the Corporation, JSC Atomredmetzoloto ("ARMZ") and its affiliate Uranium One Holding N.V. (formerly Effective Energy N.V.) under which Uranium One Holding will acquire all of the common shares of Uranium One that it and its affiliates do not already own for cash consideration of C$2.86 per share. Closing of the transaction is now scheduled to take place on Friday, October 18, 2013.
The transaction was approved on March 7, 2013 at a special meeting of the Corporation's common shareholders and optionholders and has received all required court approvals. Within 30 days of completion of the transaction, Uranium One will make an offer to purchase the $259,985,000 aggregate principal amount of its convertible unsecured subordinated debentures due March 13, 2015 as required by the terms of the debentures.
About Uranium One
Uranium One is one of the world's largest uranium producers with a globally diversified portfolio of assets located in Kazakhstan, the United States, Australia and Tanzania. ARMZ and its affiliates are Uranium One's largest shareholder, owning approximately 492.2 million (approximately 51.4% of the outstanding) common shares of Uranium One.
Cautionary Statement
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-looking statements:
This press release contains "forward-looking statements" within the meaning of applicable securities laws that are intended to be covered by the safe harbours created by those laws, including statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential", or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements may include, without limitation, statements regarding the completion of the proposed transaction and other statements that are not historical facts. While such forward-looking statements are expressed by Uranium One, as stated in this release, in good faith and believed by Uranium One to have a reasonable basis, they are subject to important risks and uncertainties including, without limitation, the satisfaction or waiver of certain other conditions contemplated by the arrangement agreement, and changes in applicable laws or regulations, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. As a result of these risks and uncertainties, the proposed transaction could be modified, restructured or not be completed, and the results or events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. Uranium One is not affirming or adopting any statements made by any other person in respect of the proposed transaction and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities or to comment on expectations of, or statements made by any other person in respect of the proposed transaction. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Reliance on forward-looking statements is at investors' own risk.
For further information about Uranium One, please visit www.uranium1.com.
SOURCE: Uranium One Inc.