GoviEx Uranium Inc (TSX-V:GXU, OTCQB:GVXXF) CEO Daniel Major talked with Proactive about the company’s transformation through the Tombador transaction, its upcoming rebranding to Atomic Eagle, and the strategic roadmap for its uranium assets, including the Muntanga project.
Major explained that the deal is “transformational” for the company, driven by four core elements: access to capital, technical experience, a refreshed team, and a share capital restructuring.
He highlighted that the ASX listing, scheduled for November 18, 2025, would position the company among key peers like Deep Yellow and Bannerman and provide access to investors with a strong understanding of African uranium assets.
The new entity, Atomic Eagle, will benefit from A$10.5 million in cash held by Tombador, alongside A$10 million raised through the transaction.
According to Major, these funds will support both ongoing exploration and development at the Muntanga project in Zambia.
Shareholders were overwhelmingly in favour of the deal, with 99% voting in support.
For investors, no action is required during the transition, with Computershare managing communications. GoviEx’s final trading on TSX-V and OTCQB is scheduled for the week of November 11, 2025.
Proactive: Hello, you're watching Proactive. I'm joined by Daniel Major, the CEO of GoviEx Uranium. Daniel, very good to speak with you, and congratulations on getting that final court approval for the Tombador arrangement. For investors who may have missed the earlier announcements, can you explain why this transaction makes strategic sense for GoviEx shareholders at this point in the company's journey?
Daniel Major: Oh, absolutely. I mean, I think this transaction with Tombador is transformational for us. We decided to go through this process with Tombador for a number of reasons. One of them is that we felt the move to the ASX was really going to help appreciate our share price. We feel that the Australian investors definitely get Africa.
If you look at it, there are nine Australian-listed uranium companies. You've got companies like Deep Yellow and Bannerman — these are our real peers and we should be compared against them. We need to be in that jurisdiction to do that.
Tombador was a company we decided to work with. It had 10.5 million Australian dollars in cash. We're raising 10 million as part of the transaction. So the company — Atomic Eagle, as it will be known after the 12th — will be well cashed up for the next two years, allowing us to target exploration and continued development steps for the Muntanga project.
One of the major shareholders coming in is the Matador Capital team — Grant Davey and his team. They bring a lot of technical and financial skills. GoviEx, given the feasibility that we've put out in the past, has those skills, but we needed to complement and add to them.
So, moving to the ASX, having additional cash, a new team coming in, a refreshed board — and lastly, capital structure. We've been very share-heavy in our capital structure at GoviEx. Our shareholders had asked us to look at that. This transaction provides us a share capital reduction as well. We've always said we'd do that as part of a transaction — and this is that.
So, I think for us, this is a very exciting opportunity for all GoviEx shareholders. And I wish them luck as Atomic Eagle shareholders as well. It's exciting. That court order was a big step. We had our shareholder vote not long ago — 99% of shareholders who voted were in favour. Tombador had a similar vote count.
We're looking at GoviEx’s final trading days on the TSX-V and OTCQB next week, with the new entity, Atomic Eagle, as you said, listing on the ASX on November the 18th. What should existing shareholders expect during this transition period? Do they need to do anything?
They don't actually need to do anything. Most of it will be organised between Computershare and the other parties. Computershare will notify investors regarding their shareholding position. A transmittal letter will be sent to all shareholders — unless they are holding shares through a broker, in which case the broker will handle it. So, really, there's very little for shareholders to deal with.
Looking beyond the closing, Daniel, what's the vision for Atomic Eagle? How does combining GoviEx’s African uranium assets with the Tombador portfolio position the merged company in what many see as a multi-year bull market for uranium?
At the end of the day, this is trying to pull together a stronger team for the development of the Muntanga project. That’s really what this is about: access to capital and access to a team that has done this before. Matador did this for Boss, and they did this for Lotus — both uranium mines are up and running. They've got the experience. We're bringing our experience of operating in Zambia and Niger as well.
This is about adding to our pounds. We were already exploring — we started that strategy at the beginning of this year, drilling in other areas. We have a feasibility study and all the technical skills that show there's a potential development project here, subject to getting a final investment decision.
Quotes have been lightly edited for clarity and style