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U3O8 Corp Completes Acquisition Of Calypso Uranium Corp

Tuesday, 14 May 2013 02:20pm EDT 

U3O8 Corp and Calypso Uranium Corp. (Calypso) announced the completion of the acquisition of Calypso by U3O8 Corp. The Acquisition expands U3O8 Corp's strategic land position around the state-owned Cerro Solo and Sierra Pintada uranium deposits in Argentina and adds approximately $3.3 million in working capital. Under the terms of the Acquisition, U3O8 Corp. issued 20,252,327 common shares in exchange for all of the 50,630,819 issued and outstanding common shares of Calypso, on the basis of 0.40 of one U3O8 Corp. share for each whole Calypso share (see March 11, 2013 press release). Calypso stock options will also become vested and continue in accordance with the terms of the plan of arrangement, and will be exercisable into U3O8 Corp. common shares, subject to adjustment in number and exercise price based on the Exchange Ratio. If all such stock option are exercised, an additional 1,476,000 common shares of U3O8 Corp. would be issuable. 

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