Uranium One Completes ARMZ Transaction

Uranium One Inc. (TSX:UUU,JNB:UUU) reports that it has completed the second closing of its transaction with JSC Atomredmetzoloto.

The press release is quoted as saying:

This completes the ARMZ transaction previously announced on June 8, 2010, under which Uranium One acquired ARMZ’s interests in the Akbastau and Zarechnoye mines and ARMZ contributed US$610 million in cash to Uranium One in return for 356 million new common shares of Uranium One pursuant to a definitive purchase and subscription agreement with ARMZ.

Click here to access the entire news release.