First Uranium to price C$130 million five-year convertibles, talked at 4.25%, up 35% at the midpoint

By Kenneth Lim

Boston, April 16 - Canada's First Uranium Corp. plans to price C$130 million of five-year convertible unsecured debentures on Wednesday, talked at the midpoint with a coupon of 4.25% and an initial conversion premium of 35%.

The convertibles will be marketed on a best-efforts basis.

RBC Capital Markets is the lead underwriter of the Regulation D offering.

The convertibles will be non-callable for the first three years.

First Uranium, a Vancouver, B.C.-based gold and uranium mining company, said it will use the proceeds of the offering to fund a drilling program and possible expansion of its Ezulwini mine in South Africa and for general purposes.

First Uranium's common stock is listed on the Toronto Stock Exchange.

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