Paladin Energy (ASX: $PDN) to acquire Fission Uranium Corp in all scrip deal

Paladin Energy Ltd (ASX: $PDN) has announced its proposed acquisition of Fission Uranium Corp. The acquisition is planned to be carried out through a statutory plan of arrangement under the Canada Business Corporations Act. Under the terms of the arrangement agreement entered into on 24 June 2024, Paladin would acquire 100% of the outstanding and issued common shares in Fission in exchange for the issue of new fully paid ordinary shares in Paladin ('Paladin Shares'). The transaction consideration represents a 30.0% premium to Fission shareholders based on the 20-day Volume Weighted Average Price ('VWAP').

Executive Commentary

The Presentation has been prepared in relation to the proposed acquisition of Fission by way of a statutory plan of arrangement under the Canada Business Corporations Act. Neither Paladin nor Fission is responsible for updating, nor undertakes to update, this Presentation. This Presentation should be read in conjunction with Paladin's and Fission's most recent financial report and other periodic and continuous disclosure announcements which are available at www.asx.com.au (in respect of Paladin) and www.sedarplus.ca (in respect of Fission). Further information about the Transaction will be provided by Fission to Fission shareholders in due course, in the form of a notice of meeting and accompanying management information circular ('Fission Circular').

Summary

The proposed acquisition of Fission by Paladin Energy Ltd is set to be completed in the September 2024 quarter. The transaction consideration represents a 30.0% premium to Fission shareholders based on the 20-day Volume Weighted Average Price ('VWAP'). Post-closing, Paladin shareholders will own approximately 76.0% of the combined company, and Fission shareholders will own approximately 24.0%. The transaction is targeted to be completed in the September 2024 quarter, and Paladin has applied to list on the TSX concurrent with the closing of the Transaction. The combined entity aims to become a clean energy leader with proven uranium production, an attractive growth pipeline, financial strength, and operational and development expertise.