11:57 AM EDT, 07/07/2025 (MT Newswires) -- (Updates shares.)

Stallion Uranium ( STLNF ) shares were last seen up 14% on Monday after regulators lifted a trading halt on the company's shares.

The approval follows the British Columbia Securities Commission's cease trade order on May 7 resulting from Stallion's failure to file its audited annual financial statements, management discussion and analysis and certifications for the financial year ended Dec. 31, 2024.

Separately, the company said it entered into a binding heads of agreement with 1503571 BC, the remaining shareholders of 1503571 BC and Australia-listed Resolution Minerals, under which Resolution will acquire all of the issued and outstanding shares of 1503571 BC.

Under the agreement, Stallion and the 1503571 BC shareholders will sell their 1503571 BC common shares to Resolution.

Resolution will pay a total of 444.8 million of its share, 222.4-million options to acquire fully paid ordinary shares exercisable at A$0.018 each by July 31, 2028, an initial cash payment of A$600,000 at deal completion, and a second cash payment of A$400,000 payable within nine months of completion.

Stallion's pro rata interest in the consideration is expected to be 59.5 consideration shares, 29.7 consideration options and cash payments of A$145,033.

The deal is subject to due diligence, Resolution shareholder approval, regulatory approvals and other customary conditions.

Stallion shares were last seen up $0.02 to $0.16 on the TSX Venture Exchange.

Price: 0.16, Change: +0.02, Percent Change: +14.29