Cameco (TSX: CCO; NYSE: CCJ) today announced the closing of its
previously announced bought deal offering of 34,057,250 common
shares of Cameco, including the exercise in full of the
underwriters’ option to purchase additional common shares, at a
price of $21.95 per share, for gross proceeds to us of
approximately $747.6 million (the “Offering”).
We intend to use the aggregate proceeds from the Offering, after
payment of fees and expenses, to partially fund our share of the
acquisition of Westinghouse Electric Company, one of the world’s
leading nuclear services businesses, through a strategic
partnership with Brookfield Renewable Partners (“Brookfield
Renewable”), together with Brookfield Renewable’s institutional
partners (the “Acquisition”).
CIBC Capital Markets and Goldman Sachs & Co. LLC acted as
joint bookrunners for the Offering.
We offered and sold the common shares in the U.S. pursuant to
our effective shelf registration statement on Form F-10 (File No.
333-267625) (the “U.S. Registration Statement”) filed with the U.S.
Securities and Exchange Commission (the “SEC”), and in Canada
pursuant to our short form base shelf prospectus (the “Base Shelf
Prospectus”), in each case, filed on September 26, 2022. A
prospectus supplement relating to and describing the terms of the
Offering was filed with the SEC and with the securities regulatory
authorities in each of the provinces and territories of Canada as
part of the U.S. Registration Statement and the Base Shelf
Prospectus, respectively. The documents filed in connection with
the Offering contain important detailed information about the
Company and the Offering. Prospective investors should read these
filings, and the documents incorporated by reference therein,
before making an investment decision.
Copies of the Base Shelf Prospectus and the prospectus
supplement are available free of charge on SEDAR at www.sedar.com,
and copies of the U.S. Registration Statement and the prospectus
supplement are available free of charge on EDGAR on the SEC website
at www.sec.gov. Alternatively, copies may be obtained from: CIBC
Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or
by telephone at 1-416-956-6378 or by email at
mailbox.canadianprospectus@cibc.com; or from Goldman Sachs &
Co. LLC, Attention: Prospectus Department, 200 West Street, New
York, NY 10282, or by telephone: 1-866-471-2526, or by facsimile:
212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com or
Goldman Sachs Canada Inc., TD North Tower, 77 King Street West
Suite 3400, Toronto, ON M5K 1B7.
No securities regulatory authority has either approved
or disapproved the contents of this press release. This press
release does not constitute an offer to sell or the solicitation of
an offer to buy any securities of Cameco, nor shall there be any
sale of the securities in any province, territory, state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such province, territory, state or
jurisdiction.
Caution about forward-looking information
Certain information in this news release, including statements
regarding the Acquisition, including the anticipated use of the net
proceeds of the Offering to fund the Acquisition and the timing and
completion of the Acquisition, constitutes forward-looking
information within the meaning of applicable securities laws in
Canada and the United States, including the United States Private
Securities Litigation Reform Act of 1995. In some cases, but not
necessarily in all cases, forward-looking information can be
identified by the use of forward-looking terminology such as
“plans”, “targets”, “expects” or “does not expect”, “is expected”,
“should”, “an opportunity exists”, “is positioned”, “estimates”,
“intends”, “assumes”, “anticipates” or “does not anticipate” or
“believes”, or variations of such words and phrases or state that
certain actions, events or results “may”, “could”, “would”,
“might”, “will” or “will be taken”, “occur” or “be achieved”. In
addition, any statements that refer to expectations, projections or
other characterizations of future events or circumstances contain
forward-looking information. Statements containing forward-looking
information are not historical facts but instead represent
management’s expectations, estimates and projections regarding
future events.
Forward-looking information is necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by the Company as of the date of this press release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to the failure to satisfy the closing conditions to
the completion of the Acquisition and the factors described in
greater detail in the “Risk Factors” section of the Company’s
current annual information form, prospectus supplement dated
October 12, 2022 and in the Company’s other materials filed with
the Canadian securities regulatory authorities and the SEC from
time to time, available at www.sedar.com and www.sec.gov,
respectively. These factors are not intended to represent a
complete list of the factors that could affect the Company;
however, these factors should be considered carefully. There can be
no assurance that such estimates and assumptions will prove to be
correct. The forward-looking statements contained in this press
release are made as of the date of this press release, and the
Company expressly disclaims any obligation to update or alter
statements containing any forward-looking information, or the
factors or assumptions underlying them, whether as a result of new
information, future events or otherwise, except as required by
law.
Profile
Cameco is one of the largest global providers of the uranium
fuel needed to energize a clean-air world. Our competitive position
is based on our controlling ownership of the world’s largest
high-grade reserves and low-cost operations. Utilities around the
world rely on our nuclear fuel products to generate safe, reliable,
carbon-free nuclear power. Our shares trade on the Toronto and New
York stock exchanges. Our head office is in Saskatoon,
Saskatchewan.
As used in this news release, the terms we, us, our, the Company
and Cameco mean Cameco Corporation and its subsidiaries unless
otherwise indicated.
Investor inquiries:
Rachelle Girard306-956-6403rachelle_girard@cameco.com
Media inquiries:
Veronica Baker306-385-5541veronica_baker@cameco.com
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