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Paladin-Fission deal receives Canadian Competition Act clearance

15th July 2024

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

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The acquisition of Toronto-listed Fission Uranium by Sydney-listed Paladin Energy has received Canadian Competition Act clearance, satisfying an important condition for the completion of the transaction.

Paladin last month announced the acquisition of Fission for C$1.14-billion, creating a global uranium leader with assets in Canada, Namibia and Australia.

The acquisition will integrate Fission Uranium’s assets, including the advanced-stage Triple R deposit at the PLS project, in Canada’s renowned Athabasca basin, with Paladin’s existing portfolio.

The combined entity boasts a proforma mineral resource of 544-million pounds of uranium oxide and ore reserves of 157-million pounds.

The transaction is targeted to be completed in the September 2024 quarter, subject to satisfaction of the remaining conditions under the agreement.

Edited by Creamer Media Reporter

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