Atomredmetzoloto JSC reports its intention to make an all-cash offer of C$0.65 per share for all outstanding common shares of Khan Resources Inc., a uranium exploration and development company based in Toronto, Ontario.

The Offer represents a premium of 48% over the closing price of the common shares Khan (the “Khan Shares”) on the TSX on November 26, 2009, the last trading day prior to this announcement by ARMZ of its intention to make the Offer, and a 103% premium over the volume weighted average price of the Khan Shares over the twenty-day trading period ended November 26, 2009.

Vadim Zhivov, Director General of ARMZ says:

“We believe the Offer represents full and fair value for the Khan Shares and provides Khan shareholders with an opportunity to receive liquidity at a significant premium to the current market, as well as value certainty today, relative to the significant political and licensing risks associated with the development of the Dornod property in Mongolia.”

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

Uranium Investing News researchers discovered Khan Resources’ project described on their website.

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