Snow Lake to Acquire Global Uranium and Enrichment Limited Creating a U.S. Focused Nuclear Fuel Cycle Company

Core Viewpoint - Snow Lake Resources Ltd. has entered into a definitive agreement to acquire Global Uranium and Enrichment Limited, aiming to create a U.S. focused nuclear fuel cycle company, enhancing its position in the uranium market and related technologies [1][5][11]. Transaction Highlights - The transaction will consolidate Snow Lake's existing 50/50 joint venture in the Pine Ridge uranium project with GUE, creating one of the largest U.S. focused uranium exploration and development companies [5][6]. - The combined group will benefit from U.S. Administration policies aimed at accelerating nuclear energy development, ensuring national and energy security [5][15]. Strategic Rationale for the Transaction - The merger will enhance exposure to the broader nuclear fuel cycle, including uranium mining, enrichment technology through Ubaryon, and a partnership with Exodys Energy for small modular reactors [3][5][12]. - The combined group will have a diversified portfolio of uranium projects across Wyoming, Colorado, Utah, Canada, and Namibia, along with critical minerals projects in North America [7][8][13]. Financial Aspects of the Transaction - GUE shareholders will receive A$0.0968 in Snow Lake shares for each GUE share held, representing a 40.3% premium to GUE's last closing price and a 54.8% premium to the 30-day VWAP [17][21]. - The combined group is expected to have a market capitalization of approximately US$76.7 million and will be well-funded with around US$18.5 million in cash post-transaction [19][20]. Completion Timeline - The completion of the schemes is targeted for Q1 2026, subject to various customary closing conditions, including shareholder approvals and court approval [24][25].