Khan Resources Acknowledges CNNC’s Decision

- May 21st, 2010

Khan Resources reports that it was informed today by CNNC Overseas Uranium Holding its decision to allow its offer to expire.
According to information provided by CNNC, on May 21, 2010, CNNC was notified by the National Energy Administration, an arm of the Chinese National Development and Reform Commission (“NDRC”), that the Offer was not approved. No reasons were […]

Khan Resources reports that it was informed today by CNNC Overseas Uranium Holding its decision to allow its offer to expire.

According to information provided by CNNC, on May 21, 2010, CNNC was notified by the National Energy Administration, an arm of the Chinese National Development and Reform Commission (“NDRC“), that the Offer was not approved. No reasons were given in the notice, and nor have any reasons been provided by CNNC or otherwise been made known to Khan as to why the NEA has refused to approve the transaction. The Offer was conditional upon CNNC receiving all necessary Chinese government and regulatory approvals, including NDRC approval.

For complete news release, click here.

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