TORONTO, June 4, 2012 /CNW/ - Uranium One Inc. ("Uranium One") today
announced that it has entered into a coordination and integration
agreement with JSC Atomredmetzoloto ("ARMZ"), the holder of
approximately 51% of Uranium One's outstanding common shares.
The coordination agreement sets out a framework for enhanced
coordination and integration between the parties in six designated
areas - Uranium One's growth and development strategy, financial
reporting and budgeting, marketing and sales, geology and exploration,
governmental relations and communication, and human resources. The
agreement is intended to ensure that the relationship of the parties is
conducted in a manner consistent with maintaining Uranium One's status
as an independent public issuer, with a continued commitment to
governance best practices and the protection of minority shareholder
The coordination agreement also extends the governance provisions of the
amended and restated framework agreement between the parties dated June
8, 2010. As a result, the "coat-tail" provisions, the covenant of ARMZ
to vote in favour of Uranium One's independent director nominees and
ARMZ's obligations not to acquire additional Uranium One shares without
Uranium One's consent, which would have otherwise expired this month,
now remain in effect until December 4, 2013 subject to ARMZ's right to
terminate the "coat-tail" and the voting covenant on 90 days' prior
notice. The coordination agreement will continue in effect unless
terminated by either party effective December 4, 2013 or on any
subsequent anniversary of that date.
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, Australia and Tanzania.
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:
Chief Executive Officer
Tel: +1 647 788 8500
Director Corporate Development & Investor Relations
Tel: +1 647 788 8461