Paladin will take over 100 per cent of the Kelowna-based uranium miner under the proposed all-stock transaction. The Australian firm is offering 0.1076 shares for every Fission unit, or $1.30 per share, representing a nearly 26 per cent premium on Fission’s closing price on Friday. (The Logic)
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Paladin will take over 100 per cent of the Kelowna-based uranium miner under the proposed all-stock transaction. The Australian firm is offering 0.1076 shares for every Fission unit, or $1.30 per share, representing a nearly 26 per cent premium on Fission’s closing price on Friday. (The Logic)
Talking point: The deal is a bet on Fission’s PLS project, a high-grade uranium mine in Saskatchewan that sits atop Canada’s vast Athabasca formation. In an interview with The Globe and Mail, Paladin CEO Ian Purdy said PLS is “one of the great undeveloped deposits in the Athabasca and in the world.” The proposed takeover also comes as uranium demand is expected to rise in coming years—increasing 28 per cent by 2030, according to the World Nuclear Association—as nuclear reactors are brought online to generate emissions-free power. The transaction will be subject to shareholder and other approvals, including Investment Canada Act and Competition Act clearance. It’s expected to close in the third quarter of 2024.
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