Energy Fuels and Titan Announce Approval of Plan of Arrangement by Energy Fuels Shareholders
10 Février 2012 - 4:49PM
Marketwired
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Energy Fuels Inc. (TSX:EFR) ("Energy Fuels") and Titan Uranium
Inc. (TSX VENTURE:TTU) ("Titan") are pleased to announce that today
shareholders of Energy Fuels approved the proposed Plan of
Arrangement between Energy Fuels and Titan Uranium Inc. (TSX
VENTURE:TTU) ("Titan"). Under the Arrangement, Titan will become a
wholly-owned subsidiary of Energy Fuels.
Of the votes cast at the Energy Fuels shareholder meeting,
98.94% were in favour of the Arrangement. Completion of the
transaction is subject to satisfaction of various conditions,
including approval by at least two-thirds of the votes cast by
shareholders of Titan, the issuance of a final order approving the
Arrangement by the B.C. Supreme Court, and the completion of the
sale by Titan of its Canadian assets on terms acceptable to Energy
Fuels. Subject to satisfaction of such conditions, Energy Fuels and
Titan anticipate that the closing of the Plan of Arrangement will
occur by the end of February 2012.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this news release, including
any information relating to the proposed Transaction between Energy
Fuels and Titan, the benefits and synergies of the Transaction,
future opportunities for the combined company and any other
statements regarding Energy Fuels' and Titan's future expectations,
beliefs, goals or prospects constitute forward-looking information
within the meaning of applicable securities legislation
(collectively, "forward-looking statements"). All statements in
this news release that are not statements of historical fact
(including statements containing the words "expects", "does not
expect", "plans", "anticipates", "does not anticipate", "believes",
"intends", "estimates", "estimates", "projects", "potential",
"scheduled", "forecast", "budget" and similar expressions) should
be considered forward-looking statements. All such forward-looking
statements are subject to important risk factors and uncertainties,
many of which are beyond Energy Fuels' and Titan's ability to
control or predict. A number of important factors could cause
actual results or events to differ materially from those indicated
or implied by such forward-looking statements, including without
limitation: the parties' ability to consummate the Transaction; the
conditions to the completion of the Transaction, including the
receipt of shareholder approval, court approval or the regulatory
approvals required for the Transaction may not be obtained on the
terms expected or on the anticipated schedule; the parties' ability
to meet expectations regarding the timing, completion and
accounting and tax treatments of the Transaction; the volatility of
the international marketplace; and any other factors described in
Energy Fuels' and Titan's most recent annual and quarterly
financial reports.
Energy Fuels and Titan assume no obligation to update the
information in this communication, except as otherwise required by
law. Additional information identifying risks and uncertainties is
contained in Energy Fuels' and Titan's respective filings with the
various provincial securities commissions which are available
online at www.sedar.com. Forward-looking statements are provided
for the purpose of providing information about the current
expectations, beliefs and plans of the management of each of Energy
Fuels and Titan relating to the future. Readers are cautioned that
such statements may not be appropriate for other purposes. Readers
are also cautioned not to place undue reliance on these
forward-looking statements, that speak only as of the date
hereof.
This news release and the information contained herein does not
constitute an offer of securities for sale in the United Sates and
securities may not be offered or sold in the United States absent
registration or exemption from registration.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Energy Fuels Inc. Stephen P. Antony President &
CEO (303) 974-2140s.antony@energyfuels.com Contacts: Titan Uranium
Inc. Chris M. Healey President & CEO (604)
925-1810cmhealey@titanuranium.com
Energy Fuels (TSX:EFR)
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