10:23 AM EDT, 03/20/2024 (MT Newswires) -- Premier American Uranium Inc. ( PAUIF ) announced that it has entered into an agreement to acquire American Future Fuel Corporation ( AFFCF ) , by way of a court-approved plan of arrangement. American Future Fuel ( AFFCF ) owns a 100% lease-hold interest in the Cebolleta Uranium Project in the Grants Mineral Belt of New Mexico, an area that hosts one of the largest concentrations of sandstone-hosted uranium in the world and is the fourth largest uranium district in the world.

Premier American has also appointed Colin Healey as CEO, effective immediately. Healey holds a Masters Degree in Business Administration and is a Mechanical Engineering Technician with over 20 years experience, the majority of which was spent as a mining research analyst at a recognized Canadian broker dealer covering uranium and other commodities. Tim Rotolo is now Chairman of the Board of Directors.

Shareholders of American Future Fuel ( AFFCF ) will receive 0.170 of a common share of Premier American Uranium ( PAUIF ) per AMPS share held. Existing shareholders of Premier American Uranium ( PAUIF ) and American Future Fuel ( AFFCF ) will own 64.2% and 35.8%, respectively, of the pro forma outstanding PUR shares on closing of the Arrangement. The implied equity value of the combined company is estimated at $129 million.

The arrangement is expected to be completed in the second quarter of 2024.

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