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Be the first with the news that moves the market- UEX Corporation (UEX) has closed its plan of arrangement to sell all its issued and outstanding common shares not already owned by Uranium Energy Corp.
- UEX is a Canadian uranium and cobalt company, and Uranium Energy was a fast-growing American mining company
- Last week, the arrangement was approved at a shareholders’ meeting and subsequently approved by the Supreme Court of British Columbia
- UEX shareholders received 0.090 Uranium Energy common share for each old share
- UEX Corporation (UEX) is down 3.66 per cent and is trading at $0.39 per share as of 3:51 p.m. ET
UEX Corporation (UEX) has closed its plan of arrangement to sell all its issued and outstanding common shares not already owned Uranium Energy Corp.
UEX is a Canadian uranium and cobalt exploration, and development company and Uranium Energy is a fast-growing uranium mining company listed on the NYSE American.
“The competing interest for UEX from other industry participants further validates the significant upside and strategic rationale we identified in UEX’s portfolio of high-grade projects in the world-class Athabasca Basin of Saskatchewan,” Amir Adnani, President and CEO said,
The arrangement was approved at a shareholders’ meeting and subsequently approved by the Supreme Court of British Columbia. UEX shareholders received 0.090 common shares of Uranium Energy for each previously held common share.
UEX will shortly be delisted from the Toronto Stock Exchange and will cease to be a reporting issuer.
“There is an emerging trend by Western utilities to secure supplies from uranium projects in politically stable and proven jurisdictions, this is a strong fit with [Uranium Energy’s] permitted, and production-ready U.S. ISR projects and extensive growth pipeline in Canada,” Adnani said.
UEX Corporation (UEX) is down 3.66 per cent and is trading at $0.39 per share as of 3:51 p.m. ET.
