KELOWNA, BRITISH COLUMBIA--(Marketwired - July 19, 2013) - STRATHMORE MINERALS CORP. ("Strathmore" or the "Company") (TSX:STM)(OTCQX:STHJF) announced today that it has obtained an interim order from the Supreme Court of British Columbia authorizing, among other things, the holding of the Company's special meeting (the "Meeting") of holders of the Company's common shares (the "Shareholders") relating to the Company's previously announced proposed plan of arrangement (the "Arrangement") with Energy Fuels Inc. ("Energy Fuels").
At the Meeting, Shareholders will be asked to consider and, if thought fit, approve a special resolution relating to the Arrangement. Meeting materials, including a Notice of Special Meeting and Management Information Circular, are scheduled to be mailed to Shareholders of record at the close of business on July 17, 2013. Upon completion of the mailing to registered shareholders, the materials for the Meeting will be filed by the Company and will be available under the Company's profile on SEDAR at www.sedar.com. In addition, materials for the Meeting will also be posted on the Company's website at www.strathmoreminerals.com.
The Meeting will be held at 10:00 a.m. (Vancouver time) on August 20, 2013, at the offices of Blake, Cassels & Graydon LLP at Suite 2300, 595 Burrard Street, Vancouver, British Columbia.
If the special resolution relating to the Arrangement is approved by the requisite votes of Shareholders and all other conditions to the Arrangement are satisfied or waived, Energy Fuels will acquire all of the issued and outstanding common shares of Strathmore (the "Common Shares"). Shareholders will receive, in exchange for each Common Share held, 1.47 common shares of Energy Fuels.
The Arrangement is subject to, among other things, the requisite Shareholder approval, approval by the shareholders of Energy Fuels, final court approval, and the necessary regulatory approvals, including final acceptance from the Toronto Stock Exchange. Assuming that the special resolution is approved at the Meeting, Strathmore anticipates returning to court on about August 21, 2013 to seek a final order to implement the Arrangement.
About Energy Fuels Inc.
Energy Fuels Inc. is America's largest conventional uranium producer, supplying approximately 25% of the uranium produced in the U.S., and is also a significant producer of vanadium. The company operates the White Mesa Mill, which is the only conventional uranium mill currently operating in the U.S., capable of processing 2,000 tons per day of uranium ore. Energy Fuels has projects located throughout the Western U.S., including producing mines and mineral properties in various stages of permitting and development.
Additional information about Energy Fuels Inc. is available by visiting Energy Fuels' website at www.energyfuels.com or under its profile on SEDAR at www.sedar.com.
About Strathmore Minerals Corp.
STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of mineral properties in the United States. Headquartered in Vancouver, British Columbia with a branch administrative office in Kelowna, the company also has U.S. based Development Offices in Riverton, Wyoming and Santa Fe, New Mexico.
STRATHMORE MINERALS CORP. Common Shares are listed on the TSX under the symbol "STM" and trade on the OTCQX International electronic trading system in the United States under the symbol "STHJF".
Additional information about Strathmore Minerals Corp. is available by visiting Strathmore's website at www.strathmoreminerals.com or under its profile on SEDAR at www.sedar.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this news release, including any information relating to the proposed Arrangement between Energy Fuels and Strathmore, and any other statements regarding Strathmore's future expectations, beliefs, goals or prospects constitute forward-looking information within the meaning of applicable securities legislation (collectively, "forward-looking statements"). All statements in this news release that are not statements of historical fact (including statements containing the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions) should be considered forward-looking statements. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond Strathmore's ability to control or predict. A number of important factors could cause actual results or events to differ materially from those indicated or implied by such forward-looking statements, including without limitation: the parties' ability to consummate the Arrangement; the conditions to the completion of the Arrangement, including the receipt of shareholder approval, court approval or the regulatory approvals required for the Arrangement may not be obtained on the terms expected or on the anticipated schedule; the parties' ability to meet expectations regarding the timing, completion and accounting and tax treatments of the Arrangement; the volatility of the international marketplace; and other risk factors as described in Energy Fuels' and Strathmore's most recent annual information forms and annual and quarterly financial reports.
Strathmore assumes no obligation to update the information in this communication, except as otherwise required by law. Additional information identifying risks and uncertainties is contained in Energy Fuels' and Strathmore's respective filings with the various provincial securities commissions which are available online at www.sedar.com. Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of the management of Strathmore relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. Readers are also cautioned not to place undue reliance on these forward-looking statements, that speak only as of the date hereof.