09:54 AM EST - First Uranium Corporation : announced that on April 17, it received an unsolicited expression of interest from Waterpan Mining Corporation and Transalloys (Pty) Ltd., to acquire the Corporation's Ezulwini Mine, subject to a number of conditions precedent, including the opportunity to have 90 days from May 1, to undertake a due diligence review of the business. Following that due diligence exercise, WMC and Transalloys envisaged being in a position to make a definitive offer by August 1. The non-binding proposal suggested the acquirors would consider an advance of $10 million of the $80 million proposed purchase price to the Corporation as a form of short term bridge financing, however such advance would not be considered until after the completion of the due diligence exercise and no other terms with respect to such bridge financing were provided for in the letter. First Uranium Corporation
shares T.FIU are trading down $0.01 at $0.11.
