Trading Symbol (TSXV: UUU and AIM: UUU)
VANCOUVER, April 5 /CNW/ - UrAsia Energy Ltd. (the "Company" or "UrAsia")
is pleased to announce the approval by UrAsia shareholders for the Plan of
Arrangement with sxr Uranium One Inc. ("Uranium One").
At a Special General Meeting of the UrAsia shareholders, held in
Vancouver earlier today, the Plan of Arrangement was approved by 99.89% of the
Under the terms of the Plan of Arrangement with Uranium One, UrAsia
shareholders will receive 0.45 common shares of Uranium One for each issued
common share of UrAsia at time of closing.
Completion of the Plan of Arrangement remains subject to receipt of final
court approval and other regulatory requirements. The transaction is expected
to close mid April, 2007.
Commenting on the results, Phillip Shirvington, President and Chief
Executive Officer said: "the overwhelming vote in favour of this arrangement
by UrAsia shareholders, demonstrates clear support for the business
combination with Uranium One. The new Uranium One will be the pre-eminent
growth Company in the uranium sector. I look forward to continuing as a
Director with Uranium One."
About UrAsia Energy
UrAsia, a Canadian-based uranium producer offers investors exposure to
low-cost, uranium production and growth. UrAsia is listed on the TSX Venture
Exchange and the Alternative Investment Market (AIM) of the London Stock
Exchange, under the symbol UUU.
On behalf of UrAsia Energy Ltd.
President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. The foregoing
information may contain forward-looking statements relating to the future
performance of UrAsia Energy Ltd. Forward-looking statements, specifically
those concerning future performance, are subject to certain risks and
uncertainties, and actual results may differ materially. These risks and
uncertainties are detailed from time to time in the Company's filings with the
appropriate securities commissions.
For further information:
For further information: Investor Relations at 1-866-798-0824 or (604)
608-0824 or visit www.sedar.com, www.urasiaenergy.com. For UK investor
enquiries, contact +44 (0) 207 466 5000