On January 24, 2023, Consolidated Uranium Inc. completed the acquisition of Virginia Energy Resources Inc. by way of court-approved plan of arrangement.
Under the terms of the transaction, former Virginia Energy shareholders received, in exchange for each Virginia Energy common share held immediately prior to the effective time of the transaction, 0.26 of a common share of Consolidated Uranium. As a result of the completion of the transaction, Consolidated Uranium acquired all of the issued and outstanding Virginia Energy Shares and Virginia Energy became a wholly-owned subsidiary of Consolidated Uranium.
Cassels acted for Consolidated Uranium.