TORONTO, June 12, 2013 /CNW/ - Uranium One Inc. (the "Corporation") today
announced that the closing of the agreement between JSC Atomredmetzoloto, its
affiliate Effective Energy, N.V. (collectively, "ARMZ") and the Corporation
under which Uranium One would be taken private pursuant to a plan of
arrangement is now expected to occur during the third quarter of 2013.
The transaction was approved on March 7, 2013 at a special meeting of Uranium
One common shareholders and optionholders and has received all required court
approvals. Closing is subject to regulatory approvals in a number of
jurisdictions, most of which have been received; the last such required
approval is now expected during the third quarter.
About Uranium One
Uranium One is one of the world's largest publicly-traded uranium producers
with a globally diversified portfolio of assets located in Kazakhstan, the
United States, Australia and Tanzania. ARMZ and its affiliates currently are
Uranium One's largest shareholder, owning approximately 492.2 million
(approximately 51.4% of the outstanding) common shares of Uranium One.
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
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, approval of applicable governmental authorities, necessary Court
approvals, 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.
Chris Sattler Chief Executive Officer Tel: +1 647 788 8500
Anton Jivov Vice President, Corporate Affairs Tel: +1 647 788 8461
SOURCE: Uranium One Inc.
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CO: Uranium One Inc.
-0- Jun/12/2013 23:54 GMT
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