Energy Fuels To Buy Base Resources For Total Equity Value Of About A$375 Mln

(RTTNews) - Energy Fuels Inc. (UUUU, EFR.TO) agreed to acquire 100% of the issued shares of Base Resources Limited (BSE.AX) in consideration for 0.0260 Energy Fuels common shares and A$0.065 in cash, payable by way of a special dividend by Base Resources to its shareholders for each Base Resources ordinary share held, for a total equity value of about A$375 million.

The offer is unanimously recommended by Base Resources' Board of Directors and Base Resources has also received voting intention statements from each of Base Resources' two major shareholders, confirming that they each intend to vote in favor of the Scheme. Those two shareholders respectively hold 26.5% and 24.8% of Base Resources' shares. In addition, each of Base Resources' directors, holding (in aggregate) an additional 1.2% of Base Resources' shares, has confirmed their intention to vote in favor of the Scheme.

The transaction will also secure Base Resources' mine development and operations team.