Brief: Consolidated Uranium To Acquire Virginia Energy Resources

Consolidated Uranium

15/11/2022 12:36

Nov 15 (Reuters) - Consolidated Uranium Inc  CUR.V :
    * CONSOLIDATED URANIUM ANNOUNCES ACQUISITION OF VIRGINIA
ENERGY
RESOURCES, SECURING THE LARGEST UNDEVELOPED URANIUM DEPOSIT IN
THE U.S.
    * CONSOLIDATED URANIUM INC - WILL ACQUIRE ALL OF ISSUED AND
OUTSTANDING COMMON SHARES OF VIRGINIA ENERGY BY WAY OF A
COURT-APPROVED PLAN OF ARRANGEMENT
    * CONSOLIDATED URANIUM INC - UNDER DEAL, VIRGINIA ENERGY
SHAREHOLDERS WILL RECEIVE 0.26 OF COMMON SHARE OF CO FOR EACH
VIRGINIA ENERGY SHARE HELD
    * CONSOLIDATED URANIUM - EXISTING SHAREHOLDERS OF CO & 
VIRGINIA
ENERGY WILL OWN ABOUT 82.4% & 17.6%, RESPECTIVELY, OF
OUTSTANDING CUR SHARES AFTER DEAL
    * CONSOLIDATED URANIUM INC - IMPLIED EQUITY VALUE OF
TRANSACTION
IS EQUAL TO APPROXIMATELY $32.2 MILLION

Source text for Eikon:  ID:nGNX96bTKH 
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