In November 2009, the Company announced that it had acquired 3,000,000 shares of Uranio AG (Frankfurt, Berlin, Stuttgart Stock Exchanges WKN: A0MKD4, UAI) (“Uranio”), a Swiss uranium exploration and development company, from Suphansa Holdings Ltd (“Suphansa”). The shares acquired from Suphansa represent 1.33% of Uranio’s issued share capital.
Consideration for the acquisition of Mercator’s stake in Uranio was the placement of 20,000,000 new ordinary shares of Mercator to Suphansa. Suphansa has agreed to a voluntary escrow of the shares issued to it for a period of 12 months.
Uranio holds a number of uranium licences in the Central African Republic and Argentina which the directors believe to be of strategic value. The management of Mercator are working with the management of Uranio to realise these licences’ value.