Energy Fuels and Magnum Uranium report shareholders of Magnum have approved the proposed plan of arrangement between the two companies.

Completion of the transaction is subject to approval of the court and the TSX Venture Exchange. Magnum and EFI anticipate that closing of the Plan of Arrangement will take place on June 30, 2009 and that, in anticipation of closing, Magnum will request that trading in its shares will be halted before market open on June 30, 2009.

Craig Lindsay, President & CEO of Magnum Uranium observes:

“We at Magnum are very pleased to bring this kind of value to our shareholders during the recent market downturn. We are especially excited to see our property portfolio in the hands of a capable developer like Energy Fuels. The Magnum properties are part of the mill feed strategy for Energy Fuels’ Pinon Ridge uranium mill, and the path to production is now well defined.”

For full details of this press release, click this link.

To view Magnum Uranium’s company profile, click here. 

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