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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 Under
the Securities Exchange Act of 1934
For the month of August, 2007
Cameco Corporation
(Commission file No. 1-14228)
2121 11th Street West
Saskatoon, Saskatchewan, Canada S7M 1J3
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover
Form 20-F or Form 40-F.
Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b):
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Exhibit Index
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Exhibit No. |
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Description |
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Page No. |
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1.
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Press Release dated
August 29, 2007
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3-4 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Date: August 30, 2007 |
Cameco Corporation
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By: |
"Gary M.S. Chad"
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Gary M.S. Chad, Q.C. |
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Senior Vice-President, Governance,
Legal and Regulatory Affairs, and
Corporate Secretary |
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TSX: CCO
NYSE: CCJ
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website: cameco.com
currency: Cdn
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2121 11th Street West, Saskatoon, Saskatchewan, S7M 1J3 Canada
Tel: (306) 956-6200 Fax: (306) 956-6201
Cameco Strengthens Uranium Exploration Portfolio
Saskatoon, Saskatchewan, Canada, August 29, 2007. . . . . . . . . . . . . .
Cameco Corporation announced today that its wholly owned subsidiary, Cameco Global Exploration II
Ltd., has concluded a strategic alliance with Western Uranium Corporation (WUC), which allows
Camecos subsidiary to acquire a 70% joint venture interest in WUCs current properties. As part of
the transaction, Camecos subsidiary also became a 10% shareholder of WUC.
WUC is a uranium exploration and development company with its head office in Vancouver, B.C. Its
principal properties are in Nevada and New Mexico in the US, and Nunavut and the Northwest
Territories in Canada. Shares of WUC trade on the TSX Venture Exchange.
Camecos subsidiary purchased 5,586,244 units of WUC at $3.80 per unit. Each unit is comprised of
one common share and one half of a share-purchase warrant. Each whole share-purchase warrant
entitles Camecos subsidiary, for one year, to acquire an additional common share for $4.25.
This transaction provides Camecos subsidiary with the following rights: (i) to acquire a 70% joint
venture interest at such time as any of WUCs current uranium properties warrant development to
production; (ii) to participate in any future equity issues; and (iii) to nominate one person for
election to WUCs board of directors, as long as the company holds 7.5% of WUCs outstanding common
shares.
This transaction strengthens Camecos extensive portfolio of exploration investments and gives us
another option to expand future production consistent with our strategy to build on Camecos
competitive advantage in the uranium business, said Cameco president and CEO Jerry Grandey.
Through our investment and strategic alliance with WUC, Camecos shareholders gain the potential
of a quality company with an attractive land position.
Cameco, with its head office in Saskatoon, Saskatchewan, is the worlds largest uranium producer.
The companys uranium products are used to generate electricity in nuclear energy plants around the
world, providing one of the cleanest sources of energy available today. Camecos shares trade on
the Toronto and New York stock exchanges.
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Statements contained in this news release, which are not historical facts, are forward-looking
statements that involve risks, uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such forward-looking statements. Factors that
could cause such differences, without limiting the generality of the following, include: the impact
of the sales volume of fuel fabrication services, uranium, conversion services, electricity
generated and gold; volatility and sensitivity to market prices for uranium, conversion services,
electricity in Ontario and gold; competition; the impact of change in foreign currency exchange
rates and interest rates; imprecision in decommissioning, reclamation, reserve and tax estimates;
environmental and safety risks including increased regulatory burdens and long-term waste disposal;
unexpected geological or hydrological conditions; adverse mining conditions; political risks
arising from operating in certain developing countries; terrorism; sabotage; a possible
deterioration in political support for nuclear energy; changes in government regulations and
policies, including tax and trade laws and policies; demand for nuclear power; replacement of
production; failure to obtain or maintain necessary permits and approvals from government
authorities; legislative and regulatory initiatives regarding deregulation, regulation or
restructuring of the electric utility industry in Ontario; Ontario electricity rate regulations;
natural phenomena including inclement weather conditions, fire, flood, underground floods,
earthquakes, pit wall failure and cave-ins; ability to maintain and further improve positive labour
relations; strikes or lockouts; operating performance, disruption in the operation of, and life of
the companys and customers facilities; decrease in electrical production due to planned outages
extending beyond their scheduled periods or unplanned outages; success of planned development
projects; and other development and operating risks.
Although Cameco believes that the assumptions inherent in the forward-looking statements are
reasonable, undue reliance should not be placed on these statements, which only apply as of the
date of this report. Cameco disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise.
- End -
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Investor and media inquiries:
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Alice Wong
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(306) 956-6337 |
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Investor inquiries:
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Bob Lillie
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(306) 956-6639 |
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Media inquiries:
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Lyle Krahn
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(306) 956-6316 |