TORONTO (Commodity Online): Canada-based investment holding company, Uranium Participation Corporation (TSX:U) today announced that its shareholders have given approval to the acquisition of Uranium Limited (TSX:UML).

According to a company statement, the acquisition would be effected by a scheme of arrangement under the laws of Guernsey. The shareholders of Uranium Limited approved the scheme of arrangement at a meeting held on March 9, 2010.

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The application to the Royal Court of Guernsey to sanction the Scheme is expected to take place on March 30, 2010. The Scheme of Arrangement is expected to become effective on the same day.

Uranium Participation Corporation is an investment holding company which invests substantially all of its assets in uranium oxide in concentrates and uranium hexafluoride with the primary investment objective of achieving appreciation in the value of its uranium holdings.


(Courtesy: Marketwire.com)

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