TORONTO, Aug. 13, 2013 /CNW/ - Uranium One Inc. ("Uranium One" or the
"Company") today announced that its Board of Directors has authorized
the Company to refinance its existing unsecured, non-convertible,
interest-bearing and certificated ruble-denominated bonds. The
refinancing, if completed, would result in the extension to 2020 of the
term of the ruble-denominated debt issued by the Company in 2011.
The Company has scheduled August 23, 2013 as the proposed closing date
for the refinancing, subject to certain conditions (as set out below).
The proposed refinancing would be effected by (i) a public offering in
Russia of up to RUB12,500,000,000 aggregate principal amount of
non-convertible unsecured interest bearing certified bearer bonds of
Series 02 ("Series 02 Bonds") under the prospectus dated October 17,
2011 previously filed by the Company with the Russian Federal Service
for Financial Markets (the "Offering"), and the listing of the Series
02 Bonds so issued on the Closed Joint-Stock Company "Moscow Interbank
Currency Exchange" ("MICEX"); and (ii) a simultaneous public offering
to repurchase, through the facilities of MICEX, the Company's
RUB14,300,000,000 aggregate principal amount outstanding
non-convertible unsecured interest bearing certified bearer bonds of
Series 01 (the "Series 01 Bonds") issued on December 7, 2011 under the
above-mentioned prospectus (the "Repurchase"). The Company has also
set an effective term of seven (7) years for the Series 02 Bonds. Both
the Offering and Repurchase are conditional on the Company receiving
commitments to purchase Series 02 Bonds of a value of at least RUB
11,750,000,000.
The refinancing does not affect the Company's pending going private
transaction, which is still anticipated to be completed by the end of
Q3 2013.
This announcement is being made concurrently with a similar Russian
announcement prescribed by the Russian Federal Service for Financial
Markets. On satisfaction of the closing conditions, further details of
the Repurchase and the Offering, including the aggregate principal
amount, tenor and coupon rate, will be disclosed in subsequent news
releases in accordance with applicable Russian legal requirements.
About Uranium One
Uranium One is one of the world's largest 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, and have entered into an agreement to acquire the
remaining outstanding common shares of Uranium One, subject to receipt
of all necessary regulatory approvals.
Cautionary Statement
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
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 and terms of the proposed offering and sale of
the Series 02 Bonds referred to herein and the use of the proceeds of
such offering, the completion and terms of the proposed repurchase of
Series 01 Bonds, 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, the completion of the
proposed transactions, the state of the capital markets, and changes to
the content or application of the relevant 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.