TORONTO, Aug. 13, 2013 /CNW/ - Uranium One Inc. ("Uranium One" or the
"Company") today announced that its Board of Directors has authorized the
Company to refinance its existing unsecured, non-convertible, interest-bearing
and certificated ruble-denominated bonds. The refinancing, if completed,
would result in the extension to 2020 of the term of the ruble-denominated
debt issued by the Company in 2011.
The Company has scheduled August 23, 2013 as the proposed closing date for the
refinancing, subject to certain conditions (as set out below).
The proposed refinancing would be effected by (i) a public offering in Russia
of up to RUB12,500,000,000 aggregate principal amount of non-convertible
unsecured interest bearing certified bearer bonds of Series 02 ("Series 02
Bonds") under the prospectus dated October 17, 2011 previously filed by the
Company with the Russian Federal Service for Financial Markets (the
"Offering"), and the listing of the Series 02 Bonds so issued on the Closed
Joint-Stock Company "Moscow Interbank Currency Exchange" ("MICEX"); and (ii) a
simultaneous public offering to repurchase, through the facilities of MICEX,
the Company's RUB14,300,000,000 aggregate principal amount outstanding
non-convertible unsecured interest bearing certified bearer bonds of Series 01
(the "Series 01 Bonds") issued on December 7, 2011 under the above-mentioned
prospectus (the "Repurchase"). The Company has also set an effective term of
seven (7) years for the Series 02 Bonds. Both the Offering and Repurchase
are conditional on the Company receiving commitments to purchase Series 02
Bonds of a value of at least RUB 11,750,000,000.
The refinancing does not affect the Company's pending going private
transaction, which is still anticipated to be completed by the end of Q3 2013.
This announcement is being made concurrently with a similar Russian
announcement prescribed by the Russian Federal Service for Financial
Markets. On satisfaction of the closing conditions, further details of the
Repurchase and the Offering, including the aggregate principal amount, tenor
and coupon rate, will be disclosed in subsequent news releases in accordance
with applicable Russian legal requirements.
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 currently are Uranium One's
largest shareholder, owning approximately 492.2 million (approximately 51.4%
of the outstanding) common shares of Uranium One, and have entered into an
agreement to acquire the remaining outstanding common shares of Uranium One,
subject to receipt of all necessary regulatory approvals.
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 and terms of the
proposed offering and sale of the Series 02 Bonds referred to herein and the
use of the proceeds of such offering, the completion and terms of the proposed
repurchase of Series 01 Bonds, 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 completion of the proposed transactions,
the state of the capital markets, and changes to the content or application of
the relevant 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
For further information about Uranium One, please visit www.uranium1.com.
Chris Sattler Chief Executive Officer Tel: +1 647 788 8500
SOURCE: Uranium One Inc.
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