White Canyon Uranium Limited: Conversion of Secured Convertible Note and Issue of Ordinary Shares
23 Fevereiro 2011 - 12:25PM
Marketwired
White Canyon Uranium Limited (TSX VENTURE: WU)(ASX: WCU) ("White
Canyon" or the "Company") announces that further to the Company's
press release dated February 11, 2011, Ms. Lulu Yu has elected to
convert a US$2.5 million secured convertible note into ordinary
shares of White Canyon. The Company has today issued 23,583,626
ordinary shares to Ms. Yu, in accordance with the terms of the
secured convertible note. Ms. Yu has signed a release in relation
to the security provided for the convertible note. Following the
issue of those shares, Ms. Yu will have a 26.98% shareholding in
the Company.
The conversion of the secured convertible note does not affect
the proposed takeover bid by Denison Mines Corp. ("Denison"), as
the issue of the shares pursuant to the conversion is specifically
provided for in the Bid Implementation Agreement between Denison
and White Canyon.
About White Canyon
White Canyon Uranium Ltd is a Perth, Western Australia-based
company focused on acquisition, exploration, and development of
uranium producing properties. The Company's U.S. operations are
headquartered in Moab, Utah and comprise multiple mining tenements
covering approximately 15,500 acres in Southern Utah.
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: White Canyon Uranium Limited John Ramsey Vice
President - Marketing +1 435 260 0267
jramsey@whitecanyonuranium.com www.whitecanyonuranium.com
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