Acquisition of Cue Resources Ltd by Uranium Energy

RNS Number : 6615A

Red Rock Resources plc

02 April 2012

 



RED ROCK RESOURCES PLC

Acquisition of Cue Resources Ltd by Uranium Energy Corporation

Dated: 2 April 2012

Red Rock Resources plc ("Red Rock" or the "Company"), the gold mining and exploration company with projects in Greenland, Colombia and Kenya, and interests in steel feed, uranium, and rare earths, reports further on the announcement made on 24 January 2012 of a planned takeover of Cue Resources Limited by Uranium Energy Corporation (NYSE-AMEX: UEC).

The transaction has now completed, and accordingly Red Rock has been issued with 368,551 shares of UEC common stock which at Friday's closing price of US$3.92 per share is valued at approximately US$1.445 million.

Red Rock held 18,900,066 shares of CUE common stock, acquired at a cost of £1,041,902 with a book value at 30 June 2011 of £727,509.

Updates on the Company's activities are regularly posted on its website, www.rrrplc.com.

Enquiries:

Andrew Bell	020 7402 4580 or 07766 474849	Red Rock Resources plc	Chairman
Sandra Spencer	020 7402 4580 or 07757 660 798	Red Rock Resources plc	Public and Investor Relations
Philip Davies/David Porter	020 7444 0800	Religare Capital Markets	Nominated Adviser
Nick Emerson	01483 413500	Simple Investments Ltd	Broker

 

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