Under the terms of the transaction, Uranium Resources would take full control of Anatolia by offering shareholders 0.06579 of its own shares for every one Anatolia share held.
Anatolia shareholders are expected to hold a 40.6% stake in the combined entity, with Uranium Resources shareholders owning around 59.4%.
The larger, international uranium development firm will have a combined market capitalization of about $68.1m.
After completion of the merger, the expanded firm will have potential for near term uranium production from the Temrezli project in central Turkey. The compbined entit will have two 800,000 lb pa ISR uranium processing plants and associated infrastructure in South Texas.
Anatolia managing director and CEO Paul Cronin said: "The Merger with Uranium Resources provides an excellent solution to Anatolia’s current objectives to advance Temrezli into production as quickly and efficiently as possible, and brings with it the possibility of greatly reducing the upfront capital costs if we can successfully relocate and utilise Uranium Resources’ Rosita ISR processing plant in South Texas as currently expected."
Uranium Resources chief executive officer Christopher Jones said: "We will target initial production from Turkey to commence as soon as possible, aligning with analysts’ estimates for a uranium price recovery."
The Rosita facility has the capability to increase the production profile from 800,000 lb U308 per year to 1.6 million lb U308 with ome upgrades.
