10:24 AM EDT, 06/05/2025 (MT Newswires) -- Premier American Uranium ( PAUIF ) was at last look up more than 2% Thursday after saying it agreed to acquire all of the issued and outstanding common shares of Nuclear Fuels ( NFUNF ) , "creating one of America's largest pure-play uranium explorers".

A statement noted Nuclear Fuels ( NFUNF ) holds a 100% interest in the Kaycee Uranium Project located in Wyoming's "prolific" Powder River Basin. The Kaycee Project spans a 35-mile trend of altered and mineralized sandstones, supported by over 4,200 drill holes and 430 miles of mapped roll fronts. In addition to Kaycee, Nuclear Fuels ( NFUNF ) also holds five exploration-stage projects across key uranium districts in Wyoming, Utah, and Arizona.

Under the terms of the arrangement, Nuclear Fuels ( NFUNF ) shareholders will receive 0.33 of a common share of Premier American Uranium ( PAUIF ) for each Nuclear Fuels ( NFUNF ) share held. Existing shareholders of PUR and Nuclear Fuels ( NFUNF ) will own near 59% and 41% (on a basic shares outstanding basis), respectively, of the pro forma outstanding PUR Shares on closing of the arrangement. The exchange ratio implies consideration of C$0.43 per NF share based on the 20-day volume weighted average price of PUR shares on the TSX Venture Exchange on June 4, 2025. The transaction represents a premium of 54% to the closing price of the NF shares on the Canadian Securities Exchange and a 46% premium to the VWAP20 of NF shares on the CSE for the period ending June 4, 2025. The implied equity value of the combined company is estimated at approximately C$102 million.

Closing of the transaction is expected to occur in the third quarter of 2025 and the agreement includes a termination fee of $2 million payable to PUR in certain circumstances.

The combined company will be managed by the current executive team of PUR, led by Colin Healey as Chief Executive Officer. Upon the closing of the transaction, the combined company's board is expected to include up to five members from PUR and two nominees from Nuclear Fuels ( NFUNF ).

Colin Healey, CEO of Premier American Uranium ( PAUIF ), cited Kaycee as an "exciting ISR prospect" that, in combination with PUR's own Cyclone Project, is expected to position PUR as "one of the most active" uranium explorers in Wyoming. He said: "While we target resource growth in Wyoming, we will continue to advance our Cebolleta Project in New Mexico along the development curve. This is the second major acquisition for Premier American Uranium ( PAUIF ) within the last 12 months, and it adheres to our goal of growth during a time of pronounced optimism in the nuclear space. Finally, the joining of strengths and backers of the two companies is a notable merit to the deal, with IsoEnergy ( ISOU ), enCore Energy Corp. ( EU ), Mega, and Sachem Cove all on the pro forma share register."

"We believe this transaction offers numerous merits for NF Shareholders," said Nuclear Fuels ( NFUNF ) CEO, President and Director, Greg Huffman. "Primarily, we welcome the diversification and depth of the expanded asset portfolio across the key U.S. uranium jurisdictions, most notably a doubling down on exposure in Wyoming. An exploration focus is too rare amongst U.S. uranium miners, and the combined company will seek to fill that gap. Additionally, the strength of the combined shareholder registers and the increasingly important role of ETF ownership is expected to underpin the Company's prospects going forward."

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