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IsoEnergy (TSX: ISO, OTCQX: ISENF) and Anfield Energy have entered into a definitive agreement where IsoEnergy will acquire all outstanding Anfield shares. Anfield shareholders will receive 0.031 IsoEnergy shares for each Anfield share. Post-transaction, IsoEnergy and Anfield shareholders will own approximately 83.8% and 16.2% of the combined company, respectively.
The transaction values Anfield at approximately $126.8 million, with a 32.1% premium to its share price. This acquisition includes the Shootaring Canyon Mill, one of only three licensed uranium mills in the U.S., and a portfolio of uranium and vanadium projects. The combined entity aims to enhance near-term U.S. uranium production capacity and secure significant operational synergies.
The transaction is expected to close in Q4 2024, subject to shareholder and regulatory approvals. In connection, IsoEnergy has provided a $6 million bridge loan to Anfield for working capital.