VANCOUVER, BC and JOHANNESBURG, South Africa, Dec. 13 /CNW/ - Uranium
One Inc. ("Uranium One") today announced it has adjusted the conversion price of the 4.25%
convertible unsecured subordinated debentures of the Company due
December 31, 2011 (the "2006 Debentures") and the conversion price of the 7.5% (re-set to 5%) convertible
unsecured subordinated debentures of the Company due March 13, 2015
(the "2010 Debentures"). The conversion prices for such debentures have been adjusted
effective as of the December 10 record date for the previously
announced special dividend of US$1.06 per common share of Uranium One
which will paid on December 20, 2010 to shareholders of record (other
than JSC Atomredmetzoloto and its affiliates). The exchange rate used
for the adjustments to the conversion prices was US$1.00 = C$1.01
The conversion price for the 2006 Debentures has been adjusted from
C$20.00 per Common Share to C$15.76 per Common Share in accordance with
section 6.1.4 of the trust indenture that governs the 2006 Debentures.
The conversion price for the 2010 Debentures has been adjusted from
C$4.00 per Common Share to C$3.15 per Common in accordance with section
6.1.6 of the trust indenture that governs the 2010 Debentures.
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, and Australia.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
Forward-looking statements: This press release contains certain
forward-looking statements. Forward-looking statements include but are
not limited to those with respect to the payment of dividends and the
adjustment of the conversion price of Uranium One's convertible debentures In certain cases, forward-looking statements
can be identified by the use of words such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes" or variations of such words and phrases, or state that
certain actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved. Forward-looking statements
involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of Uranium
One to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements.
Such risks and uncertainties include, among others, the completion of
the transactions in which Uranium One is engaged or expects to be
engaged, the future steady state production and cash costs of Uranium
One, the actual results of current exploration activities, conclusions
of economic evaluations, changes in project parameters as plans
continue to be refined, possible variations in grade and ore densities
or recovery rates, failure of plant, equipment or processes to operate
as anticipated, accidents, labour disputes or other risks of the mining
industry, delays in obtaining government approvals or financing or in
completion of development or construction activities, risks relating to
the integration of acquisitions and the realization of synergies
relating thereto, to international operations, to prices of uranium as
well as those factors referred to in the section entitled "Risk
Factors" in Uranium One's Annual Information Form for the year ended
December 31, 2009 and Management Information Circular dated August 3,
2010, each of which is available on SEDAR at www.sedar.com, and which should be reviewed in conjunction with this document.
Although Uranium One has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
Accordingly, readers should not place undue reliance on forward-looking
statements. Uranium One 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 laws.
For further information about Uranium One, please visit www.uranium1.com.
SOURCE Uranium One Inc.
For further information: For further information:
Chief Executive Officer
Tel: +1 604 601 5642
Executive Vice President, Corporate Development and Investor Relations
Tel: + 1 416 350 3657