09:04 AM EDT, 08/19/2024 (MT Newswires) -- Energy Fuels ( UUUU ) , a uranium and rare earth elements producer, on Monday acquired RadTran for an initial US$1.5 million in cash, 1.5 million in Energy Fuels ( UUUU ) common shares and the grant of a 2% royalty on future revenues from the sale of produced radium, as well as certain other contractual commitments.

Also, the deal includes up to an additional US$14 million in cash and common shares based on the satisfaction of a number of performance-based milestones, including achieving initial production and securing suitable offtake agreements to justify commercial production.

"At RadTran, we are proud to be a part of the Energy Fuels ( UUUU ) team. The White Mesa Mill's facilities, permits and licenses, and Energy Fuels' ( UUUU ) years of experience are Ideally suited to employ RadTran's Technology," said President and CEO of RadTran, Saleem Drera. "Furthermore, we have been impressed with their successful endeavours to separate and concentrate uranium, vanadium and rare earth elements in a manner that adheres to the strictest standards of protection of human health, safety and the environment."

Premarket, Energy Fuels ( UUUU ) was up 2.6% on the Nasdaq.