According to a definitive agreement entered by the companies, Energy Fuels will acquire all of the issued and outstanding shares of Strathmore in exchange for Energy Fuels shares, by way of a plan of arrangement.
Stephen P. Antony, President and CEO of Energy Fuels commented: "Energy Fuels’ acquisition of Strathmore Minerals is an important step toward achieving our goal of becoming the dominant uranium producer within the US, which is the world`s largest nuclear power market and heavily dependent on imported uranium for over 90% of its supply requirements."
The deal completion followed satisfaction of various conditions including the issuance of a final order approving the arrangement by the Supreme Court of British Columbia.
Energy Fuels is supplying approximately 25% of the uranium produced in the US.
