Dewey Burdock is an excellent ISR uranium project and we look forward to building upon Azarga's successes to create additional value through development progress and eventually production. Paul Goranson, CEO of enCore, commented: "enCore is delighted to combine our assets with those of Azarga. The Closing Exchange Ratio shall be equal to the greater of: (i) the Exchange Ratio or (ii) an exchange ratio calculated as $0.54 divided by enCore's 15-day volume-weighted average price prior to the closing of the Transaction, subject to a maximum Closing Exchange Ratio of 0.49 common shares of enCore for each share of Azarga outstanding.
The Exchange Ratio implies consideration of $0.71 per Azarga common share based on the closing price of the enCore common shares on the TSX Venture Exchange on September 3rd, 2021.Īdditionally, the Exchange Ratio will be subject to an adjustment mechanism at the closing of the Transaction (the " Closing Exchange Ratio"). Under the terms of the Agreement, Azarga shareholders will receive 0.375 common shares of enCore for each Azarga common share held (the " Exchange Ratio"). The combined company will possess a uranium resource base of 90.0 million pounds in the measured & indicated category, 9.9 million pounds in the inferred category, as well as 68.4 million pounds in the historic category*. The Transaction consolidates an industry leading pipeline of exploration and development staged in-situ recovery (" ISR") focused uranium projects located in the United States, including the licensed Rosita & Kingsville Dome past producing uranium production facilities in South Texas, the advanced stage Dewey Burdock development project in South Dakota, which has been issued its key federal permits, the PEA-staged Gas Hills Project located in Wyoming, and a portfolio of resource staged projects throughout the United States. (" Azarga") (TSX: AZZ) (OTCQB: AZZUF) (FRA: P8AA) are pleased to announce that they have entered into a definitive arrangement agreement (the " Agreement") whereby enCore will acquire all of the issued and outstanding common shares of Azarga pursuant to a court-approved plan of arrangement (the " Transaction").
(" enCore") (TSXV: EU) (OTCQB: ENCUF) and Azarga Uranium Corp.
0 kommentar(er)
