TORONTO, Nov. 15, 2013 /CNW/ - Uranium One Inc. ("Uranium One") today
gave notice that it is making an offer (the "Debenture Offer") to
purchase for cash all of its convertible unsecured subordinated
debentures due March 13, 2015 (the "Debentures") at a price equal to
101% of the principal amount thereof plus accrued and unpaid interest
up to, but excluding, January 2, 2014 (the "Offer Price"). The Offer
Price will be payable on January 2, 2014 to all holders of Debentures
who accept the Debenture Offer prior to 5:00 p.m. (Toronto time) on
December 30, 2013.
The Debenture Offer follows the October 18, 2013 acquisition by Uranium
One Holding N.V., a subsidiary of JSC Atomredmetzoloto, of all of the
outstanding common shares of Uranium One not already owned by it and
its affiliates pursuant to a plan of arrangement. The Debenture Offer
is being made pursuant to the Debenture trust indenture dated as of
March 12, 2010 between Uranium One and Computershare Trust Company of
Canada, as trustee, which requires Uranium One to make an offer to
repurchase the Debentures in the event of a change of control.
A Notice of Change of Control and Offer to Purchase is being mailed to
all beneficial owners of Debentures. Debenture holders may accept the
Debenture Offer in respect of all or a portion of their Debentures (in
a minimum amount of $1,000 principal amount and multiples thereof).
The Debentures were issued by Uranium One in the "book-entry only"
system and are registered in the name of, and held by or on behalf of,
CDS as custodian for the CDS participants. In order to tender
Debentures to the Debenture Offer, each holder must direct his or her
investment dealer, stockbroker, bank, trust company or other nominee to
accept the Debenture Offer in the manner required by his or her
nominee. CDS will be issuing instructions to CDS Participants as to the
method of tendering such Debentures.
If Holders of 90% or more of the aggregate principal amount of the
Debentures outstanding on November 15, 2013 accept the Debenture Offer,
Uranium One will have the right, but not the obligation, to elect to
redeem all the Debentures that remain outstanding at the Offer Price
and on the other terms and conditions provided in the Indenture.
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. As a result of the completion of
the arrangement, ARMZ and its affiliates now own 100% 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.
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 repurchase of debentures 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
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 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 repurchase 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.
