TORONTO AND JOHANNESBURG, Sept. 11, 2012 /CNW/ - First Uranium
Corporation (NEX:FIU.H), (JSE:FUU) (ISIN:CA33744R5087) ("First Uranium"
or "the Corporation") announces that it will make an initial
distribution (the "Distribution") on October 1, 2012 of Cdn$0.125 per
unit to shareholders of the Corporation in the form of a redemption of
the Class A Special Shares. Holders of the units (the "Units") of
record as of the close of business on September 28, 2012 (the "Record
Date") will be entitled to receive the Distribution.
Each Unit is currently comprised of 100 Class A Special Shares and 1
Class B Common Share. The Corporation will redeem pro rata 12.5 Class A Special Shares (the "Redemption") for every 100 of the
Class A Special Shares of First Uranium held by each shareholder on the
Record Date at a price per Class A Special Share of Cdn$0.01 for a
total of Cdn$0.125 per Unit. Following the Redemption, each Unit will
be comprised of 87.5 Class A Special Shares and 1 Class B Common
Share. There will be no reduction in the number of Units held by a
shareholder as a result of the Redemption.
Holders of Units recorded on the register maintained by Computershare
Investor Services Proprietary Limited and traded on the JSE Limited
will receive the Distribution in South Africa rand at a price per Class
A Special Share of ZAR0.08402 for a total of ZAR1.05 per Unit.
Shareholders will receive the Distribution as a return of stated capital
on the Class A Special Shares. See the Management Information Circular
dated May 4, 2012 for additional information concerning certain
Canadian federal income tax consequences of the Distribution.
Shareholders will not be required to surrender share certificates
representing the Units in order to receive the Distribution. The
Corporation, through its transfer agent, will record the Redemption of
Class A Special Shares on the Corporation's share register.
Cautionary Language Regarding Forward-Looking Information
This news release contains and refers to forward-looking information
based on current expectations. All other statements other than
statements of historical fact included in this release are
forward-looking statements (or forward-looking information). The
Corporation's plans involve various estimates and assumptions and its
business and operations are subject to various risks and uncertainties.
For more details on these estimates, assumptions, risks and
uncertainties, see the Corporation's most recent Annual Information
Form and most recent Management Discussion and Analysis on file with
the Canadian provincial securities regulatory authorities on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and
there can be no assurance that such statements will prove to be
accurate, such statements are subject to significant risks and
uncertainties, and actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements
that are included herein, except in accordance with applicable
SOURCE: First Uranium Corporation
For further information:
Mary Batoff: (416) 306‐3072, firstname.lastname@example.org