URANIUM ONE INC - Uranium One Finalisation Announcement for Going Private Transaction

Uranium One Finalisation Announcement for Going Private Transaction

Uranium One Inc
(Incorporated in Canada)
(Registration number: 15096422420)
Share code on the JSE: UUU & ISIN: CA91701P1053
Share code on the TSX: UUU & ISIN: CA91701P1053
(“Uranium One” or the “Company”)

News Release

September 26, 2013

          Uranium One Finalisation Announcement for Going Private Transaction

Toronto, Ontario – Uranium One Inc. (the “Corporation”; TSX: “UUU”; JSE: “UUU”, ISIN
CA91701P1053) today announced that all required regulatory approvals have now been received
and all conditions precedent have been met to complete the arrangement agreement between the
Corporation, JSC Atomredmetzoloto (“ARMZ”) and its affiliate Uranium One Holding N.V.
(formerly Effective Energy N.V.) under which Uranium One Holding will acquire all of the
common shares of Uranium One that it and its affiliates do not already own for cash consideration
of C$2.86 per share. Closing of the transaction is now scheduled to take place on Friday, October
18, 2013.

On the closing date, each shareholder of the Corporation will be entitled to receive a payment of
CDN$2.86 per share. Each shareholder in South Africa will receive ZAR27.36 per share at the
exchange rate of CDN$1.00 = ZAR9.56683 established as of the close of business on September
25, 2013 (rounded up to the nearest cent).

The relevant dates for the transaction for shareholders of the Corporation in South Africa will be
as follows:

-   Conversion Reference Date                    September 25, 2013
-   Finalisation Announcement                    September 26, 2013
-   Closing of South African Branch Register     September 27, 2013
-   Last Day to Trade on JSE                     October 11, 2013
-   Suspension of Listing on JSE                 October 14, 2013
-   Payment Record Date (Closing Date)           October 18, 2013
-   Expected South African Payment Date          October 21, 2013
-   Termination of Listing                       October 22, 2013

The transaction was approved on March 7, 2013 at a special meeting of the Corporation’s
common shareholders and optionholders and has received all required court approvals.

Within 30 days of completion of the transaction, Uranium One will make an offer to purchase the
$259,985,000 aggregate principal amount of its convertible unsecured subordinated debentures
due March 13, 2015 as required by the terms of the debentures.
About Uranium One

Uranium One is one of the world’s largest uranium producers with a globally diversified portfolio
of assets located in Kazakhstan, the United States, Australia and Tanzania. ARMZ and its
affiliates are Uranium One’s largest shareholder, owning approximately 492.2 million
(approximately 51.4% of the outstanding) common shares of Uranium One.

For further information, please contact:

Chris Sattler
Chief Executive Officer
Tel: +1 647 788 8500

Anton Jivov
Vice President, Corporate Affairs
Tel: +1 647 788 8461

Cautionary Statement

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained
herein.

Forward-looking statements:

This press release contains “forward-looking statements” within the meaning of applicable securities laws that are intended to be
covered by the safe harbours created by those laws, including statements that use forward-looking terminology such as “may”,
“will”, “expect”, “anticipate”, “believe”, “continue”, “potential”, or the negative thereof or other variations thereof or comparable
terminology. Such forward-looking statements may include, without limitation, statements regarding the completion of the proposed
transaction and other statements that are not historical facts. While such forward-looking statements are expressed by Uranium One,
as stated in this release, in good faith and believed by Uranium One to have a reasonable basis, they are subject to important risks
and uncertainties including, without limitation, the satisfaction or waiver of certain other conditions contemplated by the arrangement
agreement, and changes in applicable laws or regulations, which could cause actual results to differ materially from future results
expressed, projected or implied by the forward-looking statements. As a result of these risks and uncertainties, the proposed
transaction could be modified, restructured or not be completed, and the results or events predicted in these forward-looking
statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future
performance, given that they involve risks and uncertainties. Uranium One is not affirming or adopting any statements made by any
other person in respect of the proposed transaction and expressly disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable
securities or to comment on expectations of, or statements made by any other person in respect of the proposed transaction. Investors
should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that
statement. Reliance on forward-looking statements is at investors' own risk.

For further information about Uranium One, please visit www.uranium1.com.

Sponsor

Nedbank Capital

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