On Closing, International Uranium has committed to have a minimum of C$5,000,000 in available cash and concurrently with the entering into of the Arrangement Agreement has announced a brokered private placement of subscription receipts (the " Concurrent Financing ") led by Eight Capital and National Bank Financial Inc. with a syndicate that includes TD Securities, CG Capital Markets and Clarksons Securities AS to raise gross proceeds of C$15,000,000. On a pro forma basis, there is expected to be approximately 128,862,078 common shares of International Uranium outstanding upon completion of the Transaction assuming the minimum amount is raised in the Concurrent Financing. International Uranium will also reconstitute its board of directors and management to consist of nominees of the Company. Further details regarding the terms of the Concurrent Financing and the proposed composition of the board of directors and management are set out in today's announcement by International Uranium.