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Premier American Uranium to Acquire Nuclear Fuels, Creating One of America's Largest Pure-Play Uranium Explorers
Premier American Uranium Inc. (TSXV: PUR) and Nuclear Fuels Inc. (CSE: NF) today announced that they have entered into an arrangement agreement pursuant to which Premier American Uranium agreed to acquire all of the issued and outstanding common shares of Nuclear Fuels by way of a court-approved plan of arrangement. The implied equity value of the combined company is estimated at approximately C$102 million.
Nuclear Fuels holds a 100% interest in the Kaycee Uranium Project located in Wyoming’s prolific Powder River Basin. The Kaycee Project spans a 35-mile trend of altered and mineralized sandstones, supported by over 4,200 drill holes and 430 miles of mapped roll fronts. In addition to Kaycee, Nuclear Fuels also holds five exploration-stage projects across key uranium districts in Wyoming, Utah, and Arizona.
Canaccord Genuity Corp. is acting as financial advisor to Nuclear Fuels, and provided a fairness opinion to the board of directors of Nuclear Fuels in connection with the transaction. Wildeboer Dellelce LLP acted as legal counsel to Canaccord Genuity with a team consisting of Michael Rennie (corporate/securities; mining, energy & natural resources).
Full details can be found here.
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