05:59 AM EDT, 09/16/2024 (MT Newswires) -- Fission Uranium ( FCUUF ) over the weekend said CGN Mining, a subsidiary of China General Nuclear Power Corp., is opposing its acquisition by ASX-listed Paladin Energy for an implied value of C$1.30 per share.

Fission noted the final order and approval of its acquisition began before the Supreme Court of British Columbia on September 13, and will continue on September 26.

According to the Fission statement, CGN holds an equity stake of 11.26% in it. Fission also notes that its shareholders voted in favour of the arrangement at the special meeting on September 9.

FCU closed down 3.3% at $0.87 last Friday.