June 24 (Reuters) - Paladin Energy Ltd ( PALAF ):

* PALADIN ENERGY TO ACQUIRE FISSION URANIUM

* FISSION SHAREHOLDERS WILL RECEIVE 0.1076 FULLY PAID SHARES

OF

PALADIN FOR EACH FISSION SHARE HELD

* CO AND FISSION URANIUM ENTERED INTO A DEFINITIVE

ARRANGEMENT

AGREEMENT

* OFFER CONSIDERATION REPRESENTS IMPLIED VALUE OF C$1.30 PER

FISSION SHARE

* OFFER CONSIDERATION REPRESENTS AN IMPLIED EQUITY VALUE OF

C$1,140 MILLION

* POST DEAL, FISSION SHAREHOLDERS WILL OWN 24.0% OF PALADIN

* APPLIED FOR LISTING OF PALADIN SHARES ON THE TORONTO STOCK

EXCHANGE

* FISSION'S BOARD OF DIRECTORS RECOMMENDS FISSION

SHAREHOLDERS

VOTE IN FAVOUR OF TRANSACTION

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