Uranium One Completes US$1.5B Cross-Border Transaction

On December 27, 2010, Uranium One Inc. announced that it had completed the second closing of its transaction with JSC Atomredmetzoloto (“ARMZ”) 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.

Uranium One was advised in this multi-stage transaction by John Sibley, Executive Vice President and General Counsel, and Lloyd Hong, Senior Vice President and Legal Counsel, assisted by a team from Fasken Martineau DuMoulin LLP that included, among others, John Turner, John Elias, Gregory Ho Yuen, Krisztián Tóth, Bozidar Crnatovic and Daniel Fuke (corporate/securities); Huy Do and Mark Magro (competition and regulatory); and Ronald Nobrega (tax). Uranium One's Kazakh counsel was Macleod Dixon LLP with a team including Raushana Chaltabayeva, Crae Garrett, Lincoln Mitchell, Zhibek Aidymbekova and Alibek Begdesenov.

The Independent Committee of the Board of Directors of Uranium One, which reviewed the transaction, supervised the preparation of a formal valuation and ultimately recommended the transaction, was advised by Jeffrey Roy and Paul Stein of Cassels Brock & Blackwell LLP.

ARMZ was advised by Konstantin Kryazhevskikh, General Counsel, assisted by Canadian counsel Stikeman Elliott LLP with a team that included Quentin Markin, Amanda Linett (corporate) and Susan Hutton (competition and regulatory). Kazakh counsel was Sevil Gassanova of Aequitas Law Firm.

Lawyer(s)

Bozidar Crnatovic Lloyd H. Hong Lincoln John Mitchell John M. Elias Gregory Ho Yuen Ronald E. Nobrega Daniel Fuke Paul M. Stein Mark D. Magro Krisztián Tóth Jeffrey P. Roy John S.M. Turner John M. Sibley Huy A. Do Susan M. Hutton Amanda Linett Crae Garrett