2007 News Releases
Mega Uranium Announces Update for Twenty-Seven Capital Acquisition
February 8, 2007
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
Toronto, Ontario, Canada, February 8, 2007 - Mega Uranium Ltd. (MGA-TSX) (“Mega”) is pleased to announce that its proposed acquisition of Twenty-Seven Capital Corp. (“Twenty-Seven”) (TSC-TSXV), by way of a three-cornered amalgamation, has been approved by the shareholders of Twenty-Seven.
Under the terms of the amalgamation, upon the amalgamation becoming effective:
each shareholder of Twenty-Seven will receive one Mega share for each three shares of Twenty-Seven held and one-half (1/2) of a “new company option”;
each one-half (1/2) of one new company option will be exchanged for one-half (1/2) of one Mega share purchase warrant, with each whole Mega warrant to entitle the holder to purchase one Mega common share at a price of $6.00 for a period of five years;
all of the issued and outstanding common shares of Twenty-Seven and the unexercised new company options will be cancelled.
Mega has also received conditional acceptance from the TSX to list the common shares and Mega warrants issuable pursuant to the amalgamation. Subject to Mega fulfilling all of the requirements of the TSX, the Mega warrants will trade under the symbol MGA.WT. It is expected that the amalgamation will become effective and the common shares and Mega warrants will begin trading on the TSX on or about February 13, 2007.
About Mega Uranium
Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Argentina, Mongolia, Bolivia and Canada. Further information on Mega can be found on the company’s website at www.megauranium.com.
This news release contains forward-looking statements regarding the proposed acquisition of Twenty-Seven. Actual results and developments may differ materially from those contemplated by these statements depending on, among others, the risks that Mega and Twenty-Seven will not be able to obtain the required approvals or clearances from regulatory or other agencies and bodies on a timely basis or other conditions to completion of the acquisition will not be satisfied. The forward-looking statements included in this release represent Mega’s and Twenty-Seven’s views as of the date of this release. While Mega and Twenty-Seven anticipate that subsequent events and developments may cause their views to change, Mega and Twenty-Seven specifically disclaim any obligation to update these forward-looking statements. These forward-looking statements should not be relied up as representing the views of Mega and Twenty-Seven as of any date subsequent to the date of this release.
For further information, please contact:
Mega Uranium Ltd.
Richard Patricio, VP Corporate and Legal Affairs
Telephone: (416) 643-7630