FW advises UrAmerica Limited on its US $10 million investment by Cameco
November 2, 2011
Fox Williams is pleased to announce that it has advised long standing client UrAmerica Limited in connection with an Investment Agreement and Strategic Alliance Agreement (collectively the “Agreements”) entered into with Cameco Global South America Inc. (“Cameco”). Pursuant to the terms of the Investment Agreement, Cameco subscribed for equity in the Company for an aggregate subscription price of US$10,000,000 representing 19.9% of the issued share capital in the Company.
In addition, the Agreements grant Cameco the exclusive right to acquire 70% of each deposit discovered by UrAmerica in exchange for a payment per pound of U3O8 based on its variable spot price, within all of the Company`s currently controlled mining rights in the San Jorge Basin, Chubut Province, Argentina. UrAmerica shall hold the remaining 30% of such deposits.
Omar Adra, Founder, CEO and CFO of UrAmerica Limted said:
"Fox Williams´ commercial advice during the indepth due diligence and negotiation process with Cameco, was instrumental for the successful finalisation of this important deal. I would especially like to thank James for his involvement and ongoing support for UrAmerica, since 2008.”
UrAmerica was advised by FW in London, Baker McKenzie in Canada, Quevedo abogados in Argentina and Harneys in the BVI. BLG advised Cameco in Canada.
James Channo lead the team for FW which advised on UK aspects of the Agreements and legal opinion. James Channo was assisted by Andrew McGlashan and Rebecca Richardson. Richie Clark also assisted with the legal opinion.
