Paladin Energy's strategic acquisition

Paladin Energy (ASX:PDN) has successfully completed the acquisition of Fission Uranium Corp. This strategic move was finalized through a court-approved plan under the Canada Business Corporations Act. Former Fission shareholders will receive 0.1076 of a Paladin share for each Fission share they held, resulting in Paladin owning 100% of Fission’s shares. Former Fission shareholders now own about 24% of the newly issued Paladin shares. The company plans to integrate Fission’s operations, focusing on the Patterson Lake South project.

Acquisition summary and future outlook

Paladin Energy has finalized its acquisition of Fission Uranium, taking full ownership through a share exchange that grants former Fission shareholders a stake in Paladin. The company plans to list its shares on the Toronto Stock Exchange while delisting Fission shares from various exchanges. Management changes include the resignation of Fission's CEO, with ongoing support from key executives. Paladin aims to optimize the Patterson Lake South project through a feasibility study review. Additionally, regulatory adjustments are underway as Paladin applies for Fission to cease being a reporting issuer in Canada. The company remains cautious about forward-looking statements, acknowledging risks inherent in the mining industry.

Executive commentary on the acquisition

Paladin Energy is excited to complete the acquisition of Fission Uranium Corp. This acquisition aligns with our strategic goals and enhances our portfolio with the Patterson Lake South project. We are committed to integrating Fission effectively into our operations and unlocking the full potential of this asset.