/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
JOHANNESBURG, South Africa, March 29 /CNW/ - First Uranium Corporation
(FIU:TSX and FUM:JSE) ("First Uranium" or "the Company") today announced that
the Company has obtained a secondary listing of its Common Shares by JSE
Limited (the "JSE"), known as the Johannesburg Stock Exchange. With this
secondary listing, scheduled for Friday, March 30, the Company will not be
issuing any additional shares. As a result of this event, all of the same
shares that are listed on the Toronto Stock Exchange ("TSX") will also be
listed for trading on the JSE.
In connection with the secondary listing, First Uranium prepared and
submitted a Pre-listing Statement with the JSE. In addition, the Company
received approval of the South African Reserve Bank ("SARB") to obtain a JSE
listing. The Common Shares will trade on the JSE under the share code "FUM".
"Most importantly, we see this listing as an opportunity for South
Africans to directly invest in a South African growth company," said Gordon
Miller, President and Chief Executive Officer of First Uranium. "This listing
also fulfills our commitment to SARB to list our Common Shares on the JSE
within one year of our TSX listing."
"We view the JSE listing as the best way to facilitate the maintenance of
our BEE share ownership," continued Mr. Miller. "The listing will increase
awareness of First Uranium in South Africa and enlarge our potential investor
base, which should lead to increased liquidity in our shares and more direct
investment by residents of South Africa."
The forward-looking statements in this news release are made as of the
date hereof and there can be no assurance that such forward-looking statements
will prove to be accurate as actual 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 securities laws.
First Uranium Corporation is focused on the development of South African
uranium and gold mines with the goal of becoming a significant producer
through the re-opening and development of the Ezulwini underground mine, and
the construction of the Buffelsfontein tailings recovery facility. First
Uranium also plans to grow production by pursuing acquisition and joint
For further information:
For further information: Gordon Miller, President and Chief Executive
Officer, at +27 11 830 0390; or Bob Tait, VP Investor Relations, at (416)
486-4392, or firstname.lastname@example.org