Uranium One Announces Agreement to Acquire 50% Interest in Karatau Uranium Mine and 35% Increase in 2010 Production Guidance
Uranium One Inc. today announced the signing of a definitive purchase agreement to acquire a 50% interest in the Karatau Uranium Mine in Kazakhstan from JSC Atomredmetzoloto ("ARMZ"), the Russian state-owned uranium mining company.
The purchase price will be paid by way of the issuance of 117 million common shares of Uranium One and a cash payment of US$ 90 million (or equivalent promissory note). The purchase agreement also provides for a contingent payment to ARMZ of up to US$ 60 million, payable in three equal tranches over the period between 2010 and 2012 subject to certain post-closing tax related adjustments.
- Published: 15 June 2009
- Written by Editor