Uranium One Inc. announced that JSC Atomredmetzoloto has notified Mantra Resources Limited that ARMZ believes that the recent serious events at the nuclear power plant in Fukushima, Japan are likely to have a material adverse effect on the business, results of operations, assets or liabilities, financial position or prospects of Mantra.

ARMZ has indicated to Mantra that it intends to continue discussions with Mantra in an effort to explore how the transaction between two companies may proceed by way of an alternative approach.

Uranium One will provide further updates as additional information becomes available.

Uranium One and ARMZ are parties to a definitive put/call agreement entered into concurrently with the Scheme Implementation Agreement under which Uranium One has the right to acquire from ARMZ, and ARMZ has the right to sell to Uranium One, all of the shares of Mantra for consideration equal to ARMZ’s acquisition cost plus certain additional expenditures.

Bookmark this page!