A Nuclear Fuels employee at work on one of the company’s U.S. exploration properties. Credit: Nuclear Fuels.
Premier American Uranium (TSXV: PUR) agreed to buy Nuclear Fuels Inc. (CSE: NF) to create one of the largest US uranium explorers. Shares of both companies climbed.
Nuclear Fuels shareholders will receive 0.33 of a common share of Premier American for each share held, the companies said Thursday in a joint statement. This implies a payment of about C$0.43 per share, which would value Nuclear Fuels at about C$42 million ($31 million). The implied equity value of the combined company is estimated at about C$102 million, Premier American said.
Adding Nuclear Fuels, which is advancing the pre-resource Kaycee uranium project in Wyoming’s Powder River basin, would help Toronto-based Premier American expand its exploration portfolio to 12 properties in several key US uranium districts.
“Kaycee…
