Uranium Resources shareholders approve merger
PERTH (miningweekly.com) – The shareholders of US-based Uranium Resources have approved a merger with ASX-listed Anatolia Energy.
Under the terms of the merger, which was announced on June 4, Uranium Resources will acquire full control of Anatolia by offering shareholders 0.06579 of its own shares for every one Anatolia share held. On completion of the merger, Anatolia shareholders will hold a 40.6% interest in the combined entity and Uranium Resources shareholders 59.4%.
“This is a significant milestone in the implementation of this value-adding merger with Uranium Resources,” said Anatolia CEO and MD Paul Cronin on Wednesday.
“Key management from Uranium Resources and Anatolia have already formed an integration committee and have been working together closely to ensure the synergies to be realised through the relocation of the Rosita plant for use at the Temrezli project are maximised for the benefit of the shareholders of both companies.”
Cronin noted that Anatolia had already benefitted from Uranium Resources’ depth of experience as the company finalised plant and process designs, document operating procedures and completed the environmental-impact assessment process.
Anatolia recently inked a binding loan agreement with Uranium Resources, under which Uranium Resources would provide a secured loan of up to A$2-million to Anatolia to allow the company to continue to progress the Temrezli project, in Turkey, which the companies aimed to bring into production as quickly as possible.
The working capital would also be used to cover costs associated with the merger.
A meeting of Anatolia’s shareholders was expected on October 9.
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