VANCOUVER, BC and JOHANNESBURG, South Africa, Dec. 27 /CNW/ - Uranium
One Inc. ("Uranium One") is today pleased to announce that it has
completed the second closing of its transaction with JSC
Atomredmetzoloto ("ARMZ"), comprising the issuance of 178,127,164 new
common shares of Uranium One to ARMZ in return for ARMZ's 50% interest
in the Akbastau Uranium Mine and 49.67% interest in the Zarechnoye
Uranium Mine. ARMZ currently holds 492,217,929 common shares,
representing 51.4% of the outstanding common shares.
This completes the ARMZ transaction previously announced on June 8,
2010, under which Uranium One acquired ARMZ's interests in the Akbastau
and Zarechnoye mines and ARMZ contributed US$610 million in cash to
Uranium One in return for 356 million new common shares of Uranium One
pursuant to a definitive purchase and subscription agreement with
For the information of debentureholders, this is to confirm that at the
opening of trading on Friday, December 31, 2010, the Toronto Stock
Exchange will re-commence quoting the 7.5% (re-set to 5%) convertible
unsecured subordinated debentures of the Company due March 13, 2015 on
an "accrued interest" basis.
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.
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