TORONTO, March 7, 2013 /CNW/ - Uranium One Inc. announced today that it
has received securityholder approval for the proposed plan of
arrangement pursuant to which JSC Atomredmetzoloto ("ARMZ") and its
affiliates would acquire all of the common shares of Uranium One that
they do not already own. Approval was given at a special meeting of
Uranium One common shareholders and optionholders held in Toronto on
March 7, 2013.
At the meeting, approximately 95.7% of the votes cast by the holders of
the common shares, and 95.7% of the votes cast by the holders of the
common shares and options voting together as one class, were voted in
favour of the plan of arrangement. In addition, approximately 86% of
the votes cast by the holders of the common shares (other than ARMZ,
its affiliates and related parties, and those senior officers of
Uranium One who hold options) were voted in favour of the plan of
arrangement.
Uranium One expects to complete the transaction in the second quarter of
2013. Closing is subject to receipt of the final court order, receipt
of the remaining required regulatory approvals, and the satisfaction or
waiver of other usual and customary closing conditions.
Further information regarding the meeting and the proposed plan of
arrangement are contained in Uranium One's management information
circular for the meeting dated February 8, 2013, which is available
under Uranium One's profile on the System for Electronic Document
Analysis and Retrieval (SEDAR) at www.sedar.com.
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. ARMZ and its
affiliates currently are Uranium One's largest shareholder, owning
approximately 492.2 million (approximately 51.4% of the outstanding) common shares of
Uranium One.
Cautionary Statement
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
Investors are advised to refer to independent technical reports
containing detailed information with respect to the material properties
of Uranium One. These technical reports are available under the profile
of Uranium One Inc. at www.sedar.com. Those technical reports provide the date of each resource or reserve
estimate, details of the key assumptions, methods and parameters used
in the estimates, details of quantity and grade or quality of each
resource or reserve and a general discussion of the extent to which the
estimate may be materially affected by any known environmental,
permitting, legal, taxation, socio-political, marketing, or other
relevant issues. The technical reports also provide information with
respect to data verification in the estimation.
Forward-looking statements:
This press release contains "forward-looking statements" within the
meaning of applicable securities laws that are intended to be covered
by the safe harbours created by those laws, including statements that
use forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential", or the negative
thereof or other variations thereof or comparable terminology. Such
forward-looking statements may include, without limitation, statements
regarding the completion of the proposed transaction and other
statements that are not historical facts. While such forward-looking
statements are expressed by Uranium One, as stated in this release, in
good faith and believed by Uranium One to have a reasonable basis, they
are subject to important risks and uncertainties including, without
limitation, approval of applicable governmental authorities, necessary
Court approvals, the satisfaction or waiver of certain other conditions
contemplated by the Arrangement Agreement, and changes in applicable
laws or regulations, which could cause actual results to differ
materially from future results expressed, projected or implied by the
forward-looking statements. As a result of these risks and
uncertainties, the proposed transaction could be modified, restructured
or not be completed, and the results or events predicted in these
forward-looking statements may differ materially from actual results or
events. These forward-looking statements are not guarantees of future
performance, given that they involve risks and uncertainties. Uranium
One is not affirming or adopting any statements made by any other
person in respect of the proposed transaction and 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 or to
comment on expectations of, or statements made by any other person in
respect of the proposed transaction. Investors should not assume that
any lack of update to a previously issued forward-looking statement
constitutes a reaffirmation of that statement. Reliance on
forward-looking statements is at investors' own risk.
For further information about Uranium One, please visit www.uranium1.com.
SOURCE: Uranium One Inc.
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