Under the terms of deal, Anatolia will issue one share for every Vetter share held, for a total of 11.5 million shares. The company will retain the name Anatolia Uranium (BVI) after the merger.
Anatolia is now seeking a regulatory approval from Anatolia Uranium (BVI) for the merger, and expects to receive it by the end of April 2013, reported Proactive Investors.
Anatolia is said to have undertaken the merger to completely acquire Temrezli uranium project in Turkey from Anatolia uranium joint venture, of which 65% is currently held by Anatolia.
The Temrezli Uranium Project is located close to established infrastructure and features the Temrezli uranium deposit. The project holds a deposit that has a JORC resource of 17.41 million pounds of contained uranium at a grade 0.117% uranium.
Meanwhile, Anatolia plans to begin hydro testing as a part of its planned drilling program to explore the deposit and complete preliminary feasibility studies.
