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Uranium One Gets Kazakh MINT Approval For ARMZ Transaction, Conversion Debentures - Quick Facts

August 30, 2010, Monday, 06:38 GMT | 01:38 EST | 11:08 IST | 13:38 SGT

(RTTNews) - Uranium One Inc. (UUU.TO) said the Kazakh Ministry of Industry and New Technologies or MINT has formally approved its purchase of JSC Atomredmetzoloto's interests in the Akbastau and Zarechnoye uranium mines.

Uranium One expects to close the transaction by the end of 2010, subject to the receipt of the remaining required regulatory approvals and to the satisfaction of usual and customary closing conditions.

In addition, Uranium One has received MINT approval for the issuance of the common shares underlying the C$260 million aggregate principal amount of convertible debentures issued by the company in March 2010.