Nuclear Fuels Inc. (CSE: NF, OTCQX: NFUNF) has received the final green light from the Supreme Court of British Columbia for its planned arrangement with Premier American Uranium Inc. (TSXV: PUR, OTCQB: PAUIF), marking a major step toward consolidating two significant players in the North American uranium sector.
The court’s endorsement, granted yesterday, clears a major hurdle in the deal that will see Premier American Uranium acquire all issued and outstanding common shares of Nuclear Fuels. The completion of the transaction still depends on approval from the TSX Venture Exchange and the satisfaction of some customary closing conditions. The companies expect to close the deal around August 25, 2025.
This agreement follows a strong show of support from Nuclear Fuels’ shareholders, who approved the plan with 95% of votes cast in favor. The arrangement allows shareholders of Nuclear Fuels to receive 0.33 of a Premier American Uranium common share for each share they currently hold. Once finalized, Premier American Uranium’s shares will continue trading on the TSX Venture Exchange, while Nuclear Fuels’ shares will be delisted from the Canadian Securities Exchange without transitioning to the TSX Venture.
Nuclear Fuels has built its reputation focused on uranium exploration in the U.S., particularly advancing early stage, district-scale in-situ recovery (ISR) uranium projects. The company has consolidated control over the Kaycee district in Wyoming’s prolific Powder River Basin for the first time since the early 1980s. Nuclear Fuels is leveraging deep industry expertise and extensive proprietary databases to advance these projects, which span a 35-mile trend with significant potential defined by more than 3,800 drill holes.
Its ongoing 2025 drill program follows the success of efforts in 2023 and 2024, aiming to expand on historical resources. The company also benefits from a strategic relationship with enCore Energy Corp., which holds an equity stake and a right to increase ownership to 51% in the Kaycee Project, effectively offering Nuclear Fuels a pathway toward production.
Greg Huffman, CEO of Nuclear Fuels, expressed satisfaction with both shareholder support and what the combination represents for the sector. He reinforced that the merger brings together two strong companies with shared goals to advance clean American uranium sources. Huffman looks forward to joining Premier American Uranium’s board and continuing to collaborate with its leadership to push forward on these opportunities.
The deal highlights ongoing consolidation trends within the uranium mining industry, especially in North America, amid growing government backing for nuclear energy. This support translates into optimism for sustained growth prospects for those developing domestic uranium sources.
This transaction marks a notable milestone in Nuclear Fuels’ journey, wrapping up a process. Once complete, it will integrate the combined expertise and assets of both entities, potentially enhancing scale and resources as they target uranium production goals.
This move stands to reshape part of the uranium exploration landscape in the U.S., driven by increasing focus on clean energy sources and strategic project development in established uranium basins.
