The company will now proceed to complete the initial closing of the transaction, comprising the issuance of 178,127,165 new common shares of Uranium One to ARMZ in return for $610m in cash.
The final stage of closing, consisting of the acquisition of ARMZ’s interest in the Akbastau and Zarechnoye mines in return for an additional 178,127,164 new common shares of Uranium One, will occur prior to the end of December.
Earlier in the year, Uranium One entered into a definitive purchase and subscription agreement with ARMZ under which Uranium One would acquire ARMZ’s 50% interest in the Akbastau Uranium Mine and its 49.67% interest in the Zarechnoye Uranium Mine, both located in Kazakhstan.
ARMZ would also contribute $610m in cash to Uranium One in return for 356 million new common shares of Uranium One.
Uranium One now has all regulatory approvals required for closing.
