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Energy Fuels Inc. (TSX:EFR) and Strathmore Mineral Corp. (TSX:STM,OTCQX:STHJF) provided an update in regards to the previously announced Transaction, where Energy Fuels proposed to acquire all of Strathmore Minerals’ issued and outstanding shares. The Company received a Clearance Letter from the Committee on Foreign Investment in the United States and expects to complete the Transaction at 11:59 pm EST on August 30, 2013, subject to the satisfaction of certain customary closing conditions.

 Energy Fuels Inc. (TSX:EFR) and Strathmore Mineral Corp. (TSX:STM,OTCQX:STHJF) provided an update in regards to the previously announced Transaction, where Energy Fuels proposed to acquire all of Strathmore Minerals’ issued and outstanding shares. The Company received a Clearance Letter from the Committee on Foreign Investment in the United States and expects to complete the Transaction at 11:59 pm EST on August 30, 2013, subject to the satisfaction of certain customary closing conditions.

As quoted in the press release:

On Wednesday, August 21, 2013, the Supreme Court of British Columbia (the “Court”) issued its Final Order in respect of the Transaction in accordance with the Business Corporations Act (British Columbia). In its Final Order, the Court approved the Arrangement, holding that the Arrangement is procedurally and substantively fair and reasonable to holders of Strathmore common shares, options and restricted stock units.

Today, the Company received a clearance letter (the “Clearance Letter”) from the Committee on Foreign Investment in the United States (“CFIUS”). The Clearance Letter was issued by CFIUS following a 30-day review pursuant to a joint notice submitted by Energy Fuels and Strathmore. Issuance of the Clearance Letter is an important regulatory milestone required for the closing of the Transaction.

As a result of the Final Order and today’s receipt of the Clearance Letter, Energy Fuels expects to complete the Transaction at 11:59 p.m. (Eastern) on August 30, 2013, subject to the satisfaction of certain customary closing conditions. The Company had previously announced that it expected the Transaction to be completed on August 28, 2013.

Click here to read the Energy Fuels Inc. (TSX:EFR) press release

See this press release on Marketwire
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