The company expects to close the offering in escrow on or around April 8, 2010. The proceeds will be held in deed until the earlier of the close of business on April 30, 2010 or the date the escrow release conditions are satisfied including receipt of required South African regulatory approvals, the registration of the security documents and the meeting of other standard closing requirements.
On completion of the escrow conditions, three nominees proposed by Simmer and Jack will be appointed to the First Uranium board of directors. If Gold Wheaton subscribes for a minimum of $10m of the notes under the offering, then Gold Wheaton shall be entitled to nominate one of the remaining four independent directors.
These securities have not been and will not be registered under the US Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the US unless an exemption from registration is available.
