Premier(US:PINC) Newsfile·2025-06-23 11:30Core Viewpoint - Aero Energy Limited has successfully completed the acquisition of Kraken Energy Corp, creating a leading North American uranium developer by combining their respective assets and strengths [1][2]. Company Overview - The merger combines Aero's 250,000-acre land package in Saskatchewan's Athabasca Basin with Kraken's high-grade uranium properties in the U.S., including the Apex Uranium Property, Nevada's largest past-producing uranium mine [12]. - The new entity aims to unlock high-grade, unconformity-style mineralization and capitalize on the growing demand for uranium [12]. Transaction Details - Under the terms of the arrangement, all issued and outstanding Kraken Shares were exchanged for a total of 57,922,329 common shares of Aero at an exchange ratio of 0.97037 Aero Shares for each Kraken Share [3]. - Following the completion of the arrangement, Aero has 179,849,606 shares issued and outstanding, with approximately 67.79% held by Aero's shareholders prior to the arrangement and 32.21% by former Kraken shareholders [3]. Leadership Changes - The board of directors of Aero post-merger consists of five members, including three existing Aero directors and two nominees from Kraken [5]. - Galen McNamara continues as CEO and Director of Aero, with Carson Halliday appointed as CFO and Corporate Secretary [5]. Regulatory Approvals - The Supreme Court of British Columbia approved the arrangement on June 17, 2025, and the shareholders of Kraken approved the transaction at their annual general and special meeting on June 11, 2025 [2][3]. Market Impact - The merger is expected to enhance the companies' ability to unlock permits and scale operations effectively, positioning them to capture momentum in the uranium market [2]. - The Kraken Shares are anticipated to be de-listed from the Canadian Securities Exchange effective June 20, 2025, and Aero plans to terminate Kraken's public reporting obligations [8].