Uranium One completes ARMZ deal

6 January 2011

Canada-based trading company Uranium One Inc has closed a CAN$610 million deal with Kazakstan's JSC Atomredmetzoloto ("ARMZ") for 50% stakes in two Kazak uranium mines (50% interest in the Akbastau Uranium Mine and 49.67% interest in the Zarechnoye Uranium Mine).

ARMZ currently holds 492,217,929 common shares of Uranium One, representing 51.4% of the outstanding common shares.

This completes the ARMZ transaction previously announced on June 8, 2010, under which Uranium One acquired ARMZ's interests in the Akbastau and Zarechnoye mines and ARMZ contributed US$610 million in cash to Uranium One in return for 356 million new common shares of Uranium One pursuant to a definitive purchase and subscription agreement with ARMZ.

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