Energy Fuels Inc. and Titan Uranium Inc. Sign Letter of Intent to Merge

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Titan Uranium (TSXV:TUE) and Energy Fuels (TSX:EFR) announced that they have entered into a Letter of Intent to pursue a transaction whereby EFR will acquire by way of a plan of arrangement all of the outstanding common shares of Titan.

Titan Uranium (TSXV:TUE) and Energy Fuels (TSX:EFR) announced that they have entered into a Letter of Intent  to pursue a transaction whereby EFR will acquire by way of a plan of arrangement all of the outstanding common shares of Titan.

As quoted in the press release:

Upon completion of the Transaction, existing Titan shareholders will own approximately 42% of the issued and outstanding common shares of EFR, which will then own 100% of Titan.

Energy Fuels and Titan believe that the Transaction will provide a number of significant benefits to the shareholders of both companies, including the following:

  • Increased scale and market presence in the uranium sector
  • Substantial NI 43-101 compliant resource (37 million pounds U3O8 Measured + Indicated, 4.3 million pounds U3O8 Inferred – see details below)
  • Enhanced near-term production profile
  • Focus on US production with low political risk
  • Creation of a strong platform for continued uranium consolidation within the US
  • Greater financial strength
  • Combined management experience and expertise

Click here to read the press release.

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