Client Work Detail

On October 26, 2009, Mega Uranium Ltd. completed its first public offering in connection with the filing of a short form prospectus in each province and territory of Canada, other than Quebec. The prospectus qualified the distribution of 58,824,000 Units, each such Unit comprised of one common share and one half of one common share purchase warrant at a price per Unit of $0.85 for total gross proceeds to Mega Uranium of $50,000,400. Each whole warrant entitles the holder to acquire one common share, at a price of $1.25, until October 26, 2014, subject to early expiry if, on any day after October 26, 2012, Mega Uranium provides notice within 5 days that the 20-day volume weighted average trading price of the common shares on the Toronto Stock Exchange has exceeded $2.50. The Units were also offered on a private placement basis in the United States.

The offering was underwritten by a syndicate of underwriters led by RBC Capital Markets and UBS Securities Canada Inc., and including Macquarie Capital Markets Canada Ltd., Thomas Weisel Partners Canada Inc., Haywood Securities Inc., Salman Partners Inc. and Dundee Securities Corporation.

Mega Uranium is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Canada, Argentina, Bolivia, Colombia and Cameroon. Mega Uranium intends to use the net proceeds of the offering for the completion of feasibility studies for, and for development of, its Lake Maitland uranium project in Australia and for working capital and general corporate purposes.

Ogilvy Renault LLP acted as Canadian counsel to Mega Uranium with a team including Dawn Whittaker and Joseph Hillier (securities) and Adrienne Oliver (tax).