On March 20, 2024, Premier American Uranium Inc. and American Future Fuel Corporation entered into a definitive agreement pursuant to which Premier American Uranium will acquire all of the issued and outstanding common shares of American Future Fuel by way of a court-approved plan of arrangement.
Under the terms of the arrangement agreement, American Future Fuel shareholders will receive 0.170 of a common share of Premier American Uranium for each American Future Fuel share held. Existing shareholders of Premier American Uranium and American Future Fuel will own approximately 64.2% and 35.8% respectively, of the pro forma outstanding Premier American Uranium shares on closing of the arrangement. The arrangement is expected to be completed in the second quarter of 2024.
The implied market value of pro forma Premier American Uranium is expected to be approximately $129 million.