Mega Uranium Completes Dividend-In-Kind U308 Corp
TORONTO, Ontario – April 27, 2010 – Mega Uranium Ltd. (TSX: MGA) (“Mega”) announces that the previously announced dividend-in-kind declared on its common shares (the “Dividend”) was paid effective April 26, 2010. The Dividend was paid in accordance with the terms of the sale of Mega’s South American assets to U3O8 Corp. (“U3O8”), whereby Mega agreed to distribute to its shareholders the 30,564,858 common shares of U3O8 (the “U3O8 Shares”) which Mega received as consideration for the sale of its assets.
Under the Dividend, Mega shareholders of record at the close of business on April 16, 2010 received approximately 0.124 U3O8 Shares for every 1 common share of Mega held (or approximately 1 U3O8 Share for every 8 common shares of Mega held); provided that no fractional shares (or cash in lieu thereof) were paid under the Dividend and all fractional interests were rounded up or down, as applicable, to the nearest whole number of shares.