First Uranium Announces Agreement With Gold One

First Uranium Corporation (TSX:FIU,JSE:FUM)announced a sales agreement for 100% of all Ezulwini Mining Company Limited shares to Gold One International Limited for US$ 70 million.

As quoted in the press release:

The Gold One Acquisition Agreement is subject to a number of conditions precedent, which, include that the acquisition of all the shares of Mine Waste Solutions (Pty) Limited by AngloGold Ashanti Limited from First Uranium (the “AGA Transaction”) be implemented in accordance with its respective terms, and are required to be fulfilled or waived on or before June 29, 2012.

In order to provide sufficient time for the AGA Transaction to be implemented, which is expected to occur on or before July 24, 2012, Gold One and First Uranium have agreed to extend the date to satisfy the conditions precedent to the Gold One Transaction to July 31, 2012.  Other than the conditions precedent associated with the implementation of the AGA Transaction, the material conditions precedent to the Gold One Transaction have been satisfied or waived, including all of the regulatory approvals to the extent required.

Click here to read the First Uranium Corporation (TSX:FIU) press release.