IsoEnergy Limited (TSX-V:ISO), the Canadian uranium mining firm, is set to acquire the remaining shares of Consolidated Uranium it doesn't already own in an all-stock deal that values the combined entity at C$903.5 million.
The transaction is expected to close in the fourth quarter of this year. On completion, Consolidated Uranium shareholders will own 29.5% of the combined company, with IsoEnergy holding the balance.
The deal also coincides with a heightened focus on energy security, particularly in the wake of Russia's invasion of Ukraine, which has disrupted global oil markets and increased demand for alternative energy sources.
And it comes against the backdrop of rising uranium prices, which, at around $66 a pound, are approaching highs not seen in more than a decade.