Shareholders of Overseas Uranium Resources Development Co., Ltd. approve UEX acquisition of JCU (Canada) Exploration Company

UEX Corporation [ UEX -TSX; UEXCF -OTC] has been notified that shareholders of Overseas Uranium Resources Development Co., Ltd. (OURD) approved the sale to UEX of OURD’s wholly-owned subsidiary, JCU (Canada) Exploration Company, Limited.

The JCU Transaction Click to enlarge. UEX will acquire 100% of the shares of JCU from OURD by paying C$41million and assuming JCU’s existing liabilities, under the terms of the share purchase agreement and amending agreement). The transaction is expected to close by August 3, 2021. UEX has committed to retaining JCU as a corporate subsidiary in order for JCU to meet its existing joint venture commitments.

UEX has signed a binding agreement with Denison Mines Corp. [DML-TSX; DNN-NYSE American] whereby UEX agreed to sell 50% of the JCU shares to Denison for C$20.5 million following the close of the JCU transaction.

Key terms of the UEX Denison transaction are as follows. Denison agreed to provide UEX […]

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