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Energy Fuels Inc Signs Letter Of Intent To Acquire Strathmore Minerals Corp

Friday, 24 May 2013 09:30am EDT 

Energy Fuels Inc and Strathmore Minerals Corp announced the signing of a Letter of Intent (the LOI) pursuant to which Energy Fuels and Strathmore have agreed to pursue a transaction (the Transaction) whereby Energy Fuels would acquire, by way of a plan of arrangement, all of the issued and outstanding common shares of Strathmore. Under the terms of the LOI, Strathmore shareholders would receive 1.47 common shares of Energy Fuels for each common share of Strathmore held, resulting in the shareholders of Strathmore owning approximately 21% of the issued and outstanding shares of Energy Fuels upon completion of the Transaction. The consideration represents a premium of 31% based on the 20-day volume weighted prices. Haywood Securities Inc. and Dundee Securities Ltd. are acting as financial advisers to Energy Fuels and its board of directors. Borden Ladner Gervais LLP is acting as legal adviser to Energy Fuels. Raymond James Ltd. is acting as financial adviser to Strathmore and its board of directors. Blake, Cassels & Graydon LLP is acting as legal adviser to Strathmore. 

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-0.13 -1.70%
3:59pm EST