<SEC-DOCUMENT>0001193125-24-256102.txt : 20241112
<SEC-HEADER>0001193125-24-256102.hdr.sgml : 20241112
<ACCEPTANCE-DATETIME>20241112172057
ACCESSION NUMBER:		0001193125-24-256102
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20241112
DATE AS OF CHANGE:		20241112

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAMECO CORP
		CENTRAL INDEX KEY:			0001009001
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				980113090
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-283140
		FILM NUMBER:		241449950

	BUSINESS ADDRESS:	
		STREET 1:		2121 11TH ST W
		CITY:			SASKATOON
		STATE:			A9
		ZIP:			S7M 1J3
		BUSINESS PHONE:		3069566200

	MAIL ADDRESS:	
		STREET 1:		2121 11TH ST W.
		CITY:			SASKATOON
		STATE:			A9
		ZIP:			S7M 1J3

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAMECO CORP
		CENTRAL INDEX KEY:			0001009001
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				980113090
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		2121 11TH ST W
		CITY:			SASKATOON
		STATE:			A9
		ZIP:			S7M 1J3
		BUSINESS PHONE:		3069566200

	MAIL ADDRESS:	
		STREET 1:		2121 11TH ST W.
		CITY:			SASKATOON
		STATE:			A9
		ZIP:			S7M 1J3
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Issuer Free Writing Prospectus </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Filed pursuant to Rule 433 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration Statement No.: 333-283140 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Relating to Prospectus Supplement dated November&nbsp;12, 2024 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>to Prospectus dated November&nbsp;12, 2024 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Cameco Reports Document Filings </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cameco</B> (TSX: CCO; NYSE:
CCJ) reported today that it filed a&nbsp;technical report for the Inkai operation&nbsp;on a voluntary basis under National Instrument <FONT STYLE="white-space:nowrap">43-101</FONT> &#150; <I>Standards of Disclosure of Mineral Projects</I> (&#147;NI <FONT
STYLE="white-space:nowrap">43-101&#148;).</FONT> The technical report is being filed to provide updated information relating to the Inkai operation and not as a result of a requirement under NI <FONT STYLE="white-space:nowrap">43-101.</FONT> The
technical report has been posted on our website and SEDAR+ at www.sedarplus.ca and on EDGAR on the SEC website at www.sec.gov. Our website, SEDAR+ and EDGAR are not part of this press release and are not incorporated by reference herein. Readers are
encouraged to read the technical report in its entirety, including all qualifications, assumptions and exclusions therein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Additionally, Cameco filed a
short form base shelf prospectus dated November&nbsp;12, 2024 (the &#147;Base Shelf Prospectus&#148;) with the securities regulatory authorities in each of the provinces and territories of Canada, and a corresponding shelf registration statement on
Form <FONT STYLE="white-space:nowrap">F-10</FONT> with the United States Securities and Exchange Commission under the Multijurisdictional Disclosure System (File No.&nbsp;333-283140) (the &#147;U.S. Registration Statement&#148;). These filings allow
Cameco to make offerings of common shares, preferred shares, warrants, subscription receipts, debt securities and units or any combination thereof, having an aggregate offering price of up to $2&nbsp;billion (US) (or its equivalent in another
currency) during the next 25 months in Canada and the United States. The specific terms of any offering of securities will be set forth in a shelf prospectus supplement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, Cameco has entered into an equity distribution agreement (the &#147;Distribution Agreement&#148;) dated November&nbsp;12, 2024 with TD Securities
Inc., CIBC World Markets Inc. and Scotia Capital Inc., as Canadian agents, and TD Securities (USA) LLC, CIBC World Markets Corp. and Scotia Capital (USA) Inc., as U.S. agents, to establish an <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">at-the-market</FONT></FONT> equity program (the &#147;ATM Program&#148;) that allows Cameco to issue, at its discretion, up to $500&nbsp;million (US) (or its Canadian dollar equivalent) of common shares from treasury to
the public from time to time. The ATM Program is established pursuant to a prospectus supplement to the Base Shelf Prospectus (the &#147;Canadian ATM Supplement&#148;), and a corresponding prospectus supplement to the U.S. Registration Statement
(the &#147;U.S. ATM Supplement&#148;). The ATM Program will be effective until December&nbsp;12, 2026, unless fully utilized or terminated before such date in accordance with the terms of the Distribution Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject to the terms of the Distribution Agreement, the volume and timing of distributions under the ATM Program, if any, will be determined at Cameco&#146;s
sole discretion. As common shares sold in the ATM Program will be distributed at the prevailing market price at the time of the sale, prices may vary among purchasers during the period of the distribution. Any common shares sold in the ATM Program
will be sold in transactions that are deemed to be <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">&#147;at-the-market</FONT></FONT> distributions&#148; as defined in National Instrument
<FONT STYLE="white-space:nowrap">44-102</FONT> - Shelf Distributions, through the Toronto Stock Exchange, the NYSE or by any other method permitted by law, at the prevailing market price at the time of sale. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Net proceeds of the ATM Program, if any, are expected to fund development opportunities, future
acquisitions, repayment of indebtedness, and/or other general corporate purposes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Today, our balance sheet is strong, and with the return to our <FONT
STYLE="white-space:nowrap">tier-one</FONT> production run rate and cost basis, we expect continued strong cash flow generation,&#148; said Grant Isaac, Cameco&#146;s Executive Vice-President and CFO. &#147;And, we are adding to the tools we have
available to fund future capital requirements, which include our operating cash flow, our existing credit facilities, new credit facilities, and additional capital raised through debt or equity financings. We believe having all these financial tools
in place is prudent, providing us with added flexibility to support our strategy and to self-manage risk into the future.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Cameco has filed the Base
Shelf Prospectus and the Canadian ATM Supplement with the securities regulatory authorities in each of the provinces and territories of Canada, and has filed the U.S. Registration Statement and the U.S. ATM Supplement with the United States
Securities and Exchange Commission (the &#147;SEC&#148;). Before you invest, you should read these documents and other documents Cameco has filed with the securities regulatory authorities in each of the provinces and territories of Canada or the
SEC, as applicable, for more complete information about Cameco and the ATM Program. Copies of the Base Shelf Prospectus, the Canadian ATM Supplement and the Distribution Agreement are available free of charge on SEDAR+ at www.sedarplus.ca, and
copies of the U.S. Registration Statement, the U.S. ATM Supplement and the Distribution Agreement are available free of charge on EDGAR on the SEC website at www.sec.gov. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You may also obtain copies of the Base Shelf Prospectus and the Canadian ATM Supplement in Canada from: TD Securities Inc.,1625 Tech Avenue, Mississauga,
Ontario, L4W 5P5, Attention: Symcor, NPM, or by telephone at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">289-360-2009</FONT></FONT> or by email at <U>sdcconfirms@td.com</U>; CIBC Capital Markets, 161 Bay Street, 5th Floor,
Toronto, ON M5J 2S8 or by telephone at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-416-956-6378</FONT></FONT></FONT> or by email at <U>Mailbox.CanadianProspectus@cibc.com</U>; or Scotia
Capital Inc., 40 Temperance Street, 6th Floor, Toronto, Ontario M5H 0B4, Attention: Equity Capital Markets, or by telephone at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">416-863-7704,</FONT></FONT> or by email at
<U>equityprospectus@scotiabank.com</U>. You may also obtain copies of the U.S. Registration Statement and the U.S. ATM Supplement in the United States from: TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, New York 10017, Attention: Equity
Capital Markets or by email at <U>TD.ECM_Prospectus@tdsecurities.com</U>; CIBC Capital Markets, 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by telephone at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">1-416-956-6378</FONT></FONT></FONT> or by email at <U>Mailbox.USProspectus@cibc.com</U>; or Scotia Capital (USA) Inc., 250 Vesey Street, 24th Floor, New York, NY 10281, Attention: Equity Capital Markets or by telephone at <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">212-255-6854</FONT></FONT> or by email at <U>us.ecm@scotiabank.com</U>. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No securities
regulatory authority has either approved or disapproved the contents of this press release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities in any
province, territory, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, territory, state or jurisdiction. </B></P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Caution about forward-looking information </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain information in this news release, including statements regarding potential sales of common shares through the ATM Program, the anticipated use of the
net proceeds of the ATM Program and expected continued strong cash flows, constitutes &#147;forward-looking information&#148; within the meaning of applicable securities laws in Canada and the United States, including the U.S. Private Securities
Litigation Reform Act of 1995. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Forward-looking information and statements involve risks, uncertainties and other factors that could cause actual results
to differ materially from those expressed or implied by them. Sentences and phrases containing words such as &#147;believe&#148;, &#147;estimate&#148;, &#147;anticipate&#148;, &#147;plan&#148;, &#147;will&#148;, &#147;intend&#148;,
&#147;predict&#148;, &#147;outlook&#148;, &#147;goal&#148;, &#147;target&#148;, &#147;forecast&#148;, &#147;project&#148;, &#147;scheduled&#148;, &#147;proposed&#148;, &#147;expect&#148;, &#147;potential&#148;, &#147;strategy&#148;, and the negative
of any of these words, or variations of them, or comparable terminology that does not relate strictly to current or historical facts, are all indicative of forward-looking information or statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Cameco as of the date
of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied
by such forward-looking information, including but not limited to the factors described in greater detail in the &#147;Risk Factors&#148; section of Cameco&#146;s current annual information form, the Canadian ATM Supplement, the U.S. ATM Supplement
and in Cameco&#146;s other materials filed with the Canadian securities regulatory authorities and the SEC from time to time, available at www.sedarplus.ca and www.sec.gov, respectively. These factors are not intended to represent a complete list of
the factors that could affect Cameco; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are
made as of the date of this press release, and Cameco expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information,
future events or otherwise, except as required by law. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Profile </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Cameco is one of the largest global providers of the uranium fuel needed to energize a <FONT STYLE="white-space:nowrap">clean-air</FONT> world. Our competitive
position is based on our controlling ownership of the world&#146;s largest high-grade reserves and <FONT STYLE="white-space:nowrap">low-cost</FONT> operations, as well as significant investments across the nuclear fuel cycle, including ownership
interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the
Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As used in this news release, the terms we, us, our, the
Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investor inquiries: </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Cory Kos </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">306-716-6782</FONT></FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">cory_kos@cameco.com </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Media inquiries: </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Veronica Baker </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">306-385-5541</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">veronica_baker@cameco.com </P>
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