First Uranium Corporation (Continued under the laws of Ontario, Canada) (Registration number 2082276) (South African registration number 2007/009016/10) Share code: FUU ISIN: CA33744R5087 September 11, 2012
First Uranium announces Initial Distribution to Shareholders
Toronto and Johannesburg ' First Uranium Corporation (NEX:FIU.H), (JSE:FUU) (ISIN:CA33744R5087) ('First Uranium' or 'the Corporation') announces that it will make an initial distribution (the 'Distribution') on October 1, 2012 of Cdn$0.125 per unit to shareholders of the Corporation in the form of a redemption of the Class A Special Shares. Holders of the units (the 'Units') of record as of the close of business on September 28, 2012 (the 'Record Date') will be entitled to receive the Distribution.
Each Unit is currently comprised of 100 Class A Special Shares and 1 Class B Common Share. The Corporation will redeem pro rata 12.5 Class A Special Shares (the 'Redemption') for every 100 of the Class A Special Shares of First Uranium held by each shareholder on the Record Date at a price per Class A Special Share of Cdn$0.01 for a total of Cdn$0.125 per Unit. Following the Redemption, each Unit will be comprised of 87.5 Class A Special Shares and 1 Class B Common Share. There will be no reduction in the number of Units held by a shareholder as a result of the Redemption.
Holders of Units recorded on the register maintained by Computershare Investor Services Proprietary Limited and traded on the JSE Limited will receive the Distribution in South Africa rand at a price per Class A Special Share of ZAR0.08402 for a total of ZAR1.05 per Unit.
Shareholders will receive the Distribution as a return of stated capital on the Class A Special Shares. See the Management Information Circular dated May 4, 2012 for additional information concerning certain Canadian federal income tax consequences of the Distribution.
Shareholders will not be required to surrender share certificates representing the Units in order to receive the Distribution. The Corporation, through its transfer agent, will record the Redemption of Class A Special Shares on the Corporation's share register. The details of the Redemption are summarized below:
ISIN of Units CA33744R5087
Security Units (each Unit is comprised of 100 Class A Special Shares and 1 Class B Common Share) JSE Code FUU
Short name First Uranium
Redeemed Securities 12.5 Class A Special Shares for every 100 of the Class A Special Shares of First Uranium held by each shareholder. Amount of Distribution Cdn$0.01 per Class A Special Share, by way of a redemption of 12.5 Class A Special Shares for every 100 of the Class A Special Shares of First Uranium held by each shareholder for a total of Cdn$0.125 per Unit.
Last Date to Trade Cum Distribution on JSE Thursday, 20 September 2012 Shares to Trade Ex Distribution on JSE Friday, 21 September 2012 Record Date Friday, 28 September 2012 Payment Date Monday, 1 October 2012 For further information: Mary Batoff: (416) 306-3072, mary@firsturanium.ca
Cautionary Language Regarding Forward-Looking Information
This news release contains and refers to forward-looking information based on current expectations. All other statements other than statements of historical fact included in this release are forward-looking statements (or forward-looking information). The Corporation's plans involve various estimates and assumptions and its business and operations are subject to various risks and uncertainties. For more details on these estimates, assumptions, risks and uncertainties, see the Corporation's most recent Annual Information Form and most recent Management Discussion and Analysis on file with the Canadian provincial securities regulatory authorities on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and there can be no assurance that such statements will prove to be accurate, such statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements that are included herein, except in accordance with applicable securities laws. www.firsturanium.com Sponsor: Investec Bank Limited
Date: 11/09/2012 05:15:00 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.