<div id="subtitle">Following closing of the acquisition, ARMZ will hold an indirect 16.6% interest in Uranium One</div><div><p>Uranium One (TSX: T.UUU, Stock Forum) announced Monday that it has signed an agreement to acquire a 50% interest in the Karatau Uranium Mine in Kazakhstan from JSC Atomredmetzoloto, the Russian state-owned uranium mining company. </p><p>The company says 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$90 million. The agreement also provides for a contingent payment to ARMZ of up to US$ 60 million. </p><p>The other 50% interest in the mine is held by JSC Kazatomprom, the Kazakh-stated owned uranium mining company which also holds joint venture interests in Uranium One's other Kazakh mines and projects. </p><p>Uranium One has also entered into a long-term offtake agreement and a framework agreement with ARMZ. Following closing of the acquisition, ARMZ will hold an indirect 16.6% interest in Uranium One. </p><p>Uranium One says it expects to close the acquisition on or before December 15. </p><p>"The acquisition of a 50% stake in Karatau adds another long-life, large scale and high margin asset to our portfolio and will significantly enhance Uranium One's production profile and cement its position of leadership in the Kazakh uranium mining industry. The completion of this transaction, as well as our previously announced private placement with the TEPCO/Toshiba/JBIC consortium, will give us long-term partnerships with the governments of Russia, Japan and Kazakhstan, as well as some of the most influential customers and suppliers in the global nuclear industry," said Jean Nortier, president and CEO of Uranium One. </p><p>As part of a longer post on the company’s Bullboard, robbie25 said: “…This deal was either designed specifically to ease concern and doubt about Kazakhstan, or that will just be a very nice side benefit, but I beileve that is exactly what iut will do. Of course the increased production certainly doesn't hurt either[sic].” </p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=52768429&bid=informcom" /></div><div id="copyright"><div>

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