Three Japanese companies will make a substantial joint investment in Uranium One, a major Canadian producer and marketer of uranium.
The full share issue will be taken up by Japan Uranium Management Incorporated (JUMI), a special purpose entity established by the three Japanese companies in
Once JUMI completes the transaction, JUMI will have a holding of about 19.95 per cent in Uranium One.
TEPCO and Toshiba will each hold 40 per cent of JUMI’s shares and JBIC will hold 20 per cent.
Uranium One has also entered into a long-term offtake agreement and a strategic relationship agreement with the Japanese consortium, both of which will become effective upon closing of the private placement.
The offtake agreement provides the consortium with an option to purchase, on industry-standard terms, up to 20 per cent of Uranium One’s available production.
Uranium One has a 70 per cent interest in a joint venture in
The company also has a 30 per cent interest in a joint venture in
In addition, it owns the Dominion Uranium Project in