First Uranium Closes Sale Of Tailings Recovery Project

First Uranium Corporation (TSX:FIU,JSE:FUU) announced the closing date passed for the indirect sale all of the shares of Mine Waste Solutions Limited to AngloGold Ashanti Limited (ASX:AGG,NYSE:AU).

As quoted in the press release:

The Corporation has been advised that it could take up to three weeks for the Discharge Documents (as defined below) to be registered, accordingly, the AGA Transaction is expected to be implemented by July 24, 2012, or on an earlier date depending on the date the Discharge Documents are registered.

At this juncture, all of the documents required to conclude the AGA Transaction have been delivered to Edward Nathan Sonnenbergs as Closing Document Stakeholder, the purchase price, in accordance with the AGA Agreement, has been delivered to Computershare Trust Company of Canada and Computershare Investor Services (Proprietary) Inc., each a Purchase Price Stakeholder, and certain documents (“Discharge Documents”) relating to the discharge of the security held for the benefit of the 7% secured convertible notes (the “Canadian Notes”) issued by the Corporation, the 11% secured convertible notes (the “Rand Notes”) issued by MWS and the Gold One $10 million loan facility will be lodged with the appropriate deeds office.

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