Cameco Completes $460M Bought Deal Offering of Common Shares

On March 5, 2009 Cameco Corporation completed a bought deal public offering of 26,666,400 common shares for $17.25 per share, including the issuance of 3,478,000 shares issued pursuant to the exercise of the over-allotment option. Cameco raised a total of $459,995,400 under the offering. The net proceeds will be used to strengthen Cameco's capital position and enhance Cameco's financial flexibility to allow it to take advantage of opportunities that may emerge from the current industry environment, and for general corporate purposes. The offering was made in both Canada and the United States pursuant to the multi-jurisdictional disclosure system.

The common shares were sold through a syndicate of underwriters co-led by BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. and that included CIBC World Markets Inc., Scotia Capital Inc., BNP Paribas (Canada) Securities Inc., TD Securities Inc. and National Bank Financial Inc.

Cameco was represented by its in-house legal team of Larry Korchinski, director, legal affairs, securities compliance, and Holly Ward, legal advisor, and in Canada and the United States by Osler, Hoskin & Harcourt LLP with a team led by Rob Lando that included Jim Lurie, Desmond Lee, Mark Hogan, Mark Shubitz and Kate Coolican (Canadian and US corporate and securities); Radha Curpen (environmental); and Monica Biringer and Bill Corcoran (Canadian and US tax).

The underwriters were represented in Canada by Borden Ladner Gervais LLP with a team led by Paul Mingay (corporate and securities) and that included Fred Pletcher, Dyana McLellan, Paul Simon, Shannon Webber and Shaunik Katyal (corporate and securities); Rick Coburn and Christina Vechsler (environmental); and Larissa Tkachenko (tax).

The underwriters were represented in the United States by Skadden, Arps, Slate, Meagher & Flom LLP with a team led by Christopher Morgan (corporate and securities) and that included Riccardo Leofanti, Ryan Dzierniejko, David Beeston and Julie Breau (corporate and securities); John Amodeo (environmental); and Eric Sensenbrenner and Aaron Feinberg (tax).