The projects are located in the Athabasca Basin of Saskatchewan and the Thelon Basin in Nunavut.
Pursuant to the agreement, NexGen will offer an aggregate of 16,406,815 common shares in the company, following which Mega uranium will own about 38% equity interest in the Australian firm.
The transaction is estimated to close before the end of December 2012 is subject to customary closing conditions.
Following the acquisition, the combined uranium projects of both companies will create a significant uranium exploration portfolio in Canada.
Projects in the Athabasca Basin include Rook 1 and Northwest Athabasca.
The region is also home to NexGen’s Radio, where the company expects to begin drilling early next year.
