Nuclear Fuels shareholders back Premier American Uranium merger
Shareholders of CSE-listed Nuclear Fuels have voted in favour of a planned merger with TSX-V-listed Premier American Uranium, the companies said on Wednesday.
The statutory plan of arrangement was approved by 95.08% of votes cast, as well as by a simple majority excluding certain shareholders as required under Canadian securities rules.
Under the deal, each Nuclear Fuels shareholder will receive 0.33 of a Premier American Uranium common share for each Nuclear Fuels share held.
Completion of the transaction is subject to approval by the Supreme Court of British Columbia, the TSX-V, and other customary conditions. A court hearing is scheduled for August 18, with closing targeted for around August 25.
“On behalf of the management team at Nuclear Fuels I am pleased our shareholders strongly supported this transaction with a 95% approval,” said Nuclear Fuels CEO Greg Huffman. “We stand by our belief that the combination of two strong companies will benefit our shareholders. I look forward to joining Premier American Uranium's board of directors and working with Colin Healey to continue pursuing our common goal of advancing new sources of Clean American Uranium.”
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