Press Release Source: Mega Uranium Ltd.
Mega Uranium and Monster Copper Announce Update for Monster Copper Acquisition
Thursday May 31, 8:00 am ET
TORONTO, ONTARIO--(CCNMatthews - May 31, 2007) - Mega Uranium Ltd. (TSX:MGA - News; "Mega") and Monster Copper Corporation (TSX VENTURE:MNS - News; "Monster Copper") are pleased to announce that Mega's proposed acquisition of Monster Copper, by way of a three-cornered amalgamation, was approved by the shareholders of Monster Copper at the company's special meeting held on May 30, 2007 in Vancouver.
Under the terms of the amalgamation, shareholders of Monster Copper immediately prior to the effective date of the amalgamation (the "Effective Date") will be entitled to receive one common share of Mega and one-half of one common share purchase warrant of Mega in exchange for each six common shares of Monster Copper held immediately prior to the Effective Date.
The acquisition has also been conditionally approved by the Toronto Stock Exchange (the "TSX") and the TSX Venture Exchange, and the TSX has conditionally approved the listing of the common shares and warrants of Mega to be issued to Monster Copper shareholders. It is expected that all remaining conditions to completion of the acquisition will be satisfied or waived by the parties and that the amalgamation will become effective on or about June 6, 2007 (at which time all shareholders of Monster Copper will automatically become shareholders of Mega). It is anticipated that trading in common shares of Monster Copper will cease at the close of business on June 5, 2007 and thereafter the common shares will be de-listed from the TSX Venture Exchange.
Certificates evidencing the common shares and warrants of Mega to be issued under the amalgamation will be mailed by Equity Transfer & Trust Company to registered shareholders of Monster Copper within a few days following the Effective Date. Subject to Mega fulfilling the customary requirements of the TSX, it is expected that the warrants will commence trading on the TSX under the symbol MGA.WT.A on or about June 11, 2007.
ABOUT MEGA URANIUM
Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Argentina, Mongolia, Columbia, Bolivia and Canada. Further information on Mega can be found on the company's website at www.megauranium.com. Mega's Australian uranium properties, including without limitation the Ben Lomond and Maureen properties, are subject to state policies which presently prohibit the mining of uranium in Australia.
Contact:
Richard Patricio
Mega Uranium Ltd.
VP Corporate and Legal Affairs
(416) 643-7630
Email: info@megauranium.com
Website: www.megauranium.com
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Source: Mega Uranium Ltd.
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