Energy Fuels and Titan Announce Approval of Plan of Arrangement by Energy Fuels Shareholders
10 Fevereiro 2012 - 12:49PM
Marketwired Canada
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.
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