VANCOUVER, British Columbia and JOHANNESBURG, South Africa, Jan. 26
/CNW/ - Uranium One Inc. today announced that its Board of Directors
has appointed Chris Sattler as the Company's Chief Executive Officer.
Mr. Sattler joined Uranium One in 2006 and since 2009 has served as
Executive Vice President, Corporate Development and Investor
Relations. In this capacity he has been instrumental in the growth and
development of Uranium One's business worldwide. Prior to joining
Uranium One, he worked as an investment banker for a major Canadian
investment dealer. Mr. Sattler holds a B.Sc. in Mining Engineering
from Queen's University and an MBA from London Business School.
Mr. Sattler succeeds Jean Nortier, who has returned to South Africa with
his family for personal reasons. Mr. Nortier will remain a member of
the Company's Board of Directors.
Ian Telfer, Chairman of Uranium One, commented:
"The Board is very pleased that Chris has agreed to become CEO of the
Company. He has been a vital part of our leadership team and
instrumental in developing our strategy. We are confident Chris will
continue the successful trajectory that currently defines Uranium One.
We are also very happy that Jean Nortier has agreed to remain as a
Director so that we can continue to benefit from his knowledge and
experience. Jean led the Company very successfully during a
challenging time and we are grateful that his strong relationship with
the Company will continue."
Mr. Sattler will take up his new duties on February 1 and join the
Company's Board of Directors. Mr. Terry Rosenberg, a director of the
Company since 2007, will be retiring from the Board at that time.
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.
Forward-looking statements: This press release contains certain
forward-looking statements. Forward-looking statements include but are
not limited to those with respect to the price of uranium, the
estimation of mineral resources and reserves, the realization of
mineral reserve estimates, the timing and amount of estimated future
production, costs of production, capital expenditures, costs and timing
of the development of new deposits, success of exploration activities,
permitting time lines, currency fluctuations, requirements for
additional capital, government regulation of mining operations,
environmental risks, unanticipated reclamation expenses, title disputes
or claims and limitations on insurance coverage and the timing and
possible outcome of pending litigation. In certain cases,
forward-looking statements can be identified by the use of words such
as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes" or variations of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Uranium One to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Such risks and uncertainties
include, among others, the completion of the transactions described in
this press release, the future steady state production and cash costs
of Uranium One, the actual results of current exploration activities,
conclusions of economic evaluations, changes in project parameters as
plans continue to be refined, possible variations in grade and ore
densities or recovery rates, failure of plant, equipment or processes
to operate as anticipated, accidents, labour disputes or other risks of
the mining industry, delays in obtaining government approvals or
financing or in completion of development or construction activities,
risks relating to the integration of acquisitions and the realization
of synergies relating thereto, to international operations, to prices
of uranium as well as those factors referred to in the section entitled
"Risk Factors" in Uranium One's Annual Information Form for the year
ended December 31, 2009 and Management Information Circular dated
August 3, 2010, each of which is available on SEDAR at www.sedar.com, and which should be reviewed in conjunction with this document.
Although Uranium One has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
Accordingly, readers should not place undue reliance on forward-looking
statements. Uranium One expressly disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise, except in accordance
with applicable securities laws.
For further information about Uranium One, please visit www.uranium1.com.
SOURCE Uranium One Inc.
For further information:
Executive Vice President, Corporate Development and Investor Relations
Tel: + 1 416 350 3657