OREANDA-NEWS. With all necessary regulatory consents in the countries of Uranium One Inc.’s operations obtained, the transaction pursuant to which Uranium One Holding N.V. acquires all of the outstanding common shares in Canada-based Uranium One Inc., has been closed. Uranium One Inc. will be de-listed from the Toronto Stock Exchange on 21 October and from the Johannesburg Stock Exchange on 22 October.

“For four years we have been working with Uranium One on a concerted strategy to build out the Canada-based company as a global growth platform for Rosatom in the uranium mining segment. Primarily acting in the strategic interests of the Russian atomic industry, we have been consistently living up to our commitments while developing partnership with the Canada-based company in line with international best practices of corporate governance and with due regard to minority shareholders rights, pointed out Vadim Jivov, President of Uranium One Holding. The completion of the arrangement first announced in January, under which Uranium One Holding N.V. acquires 100% of Uranium One Inc. shares, further confirms Rosatom’s ability to operate efficiently in an open competitive environment in compliance with all necessary corporate procedures and applicable laws on a global scale. Of prime importance is the friendly nature of the transaction, which has been approved by the Company's minority shareholders. Going forward, Uranium One will remain committed to the highest standards of corporate governance, with key decisions to be approved by the board of directors most of whom will remain independent, same as before. Given the challenging global financial markets, the new ownership structure will enable us as a strategic investor to develop Uranium One Inc. more efficiently so as to meet policy makers’ objectives for the mining division”.