14:57:56 EDT Fri 04 Jul 2025
Enter Symbol
or Name
USA
CA



Fission Uranium Corp
Symbol FCU
Shares Issued 855,306,927
Close 2024-07-18 C$ 1.23
Market Cap C$ 1,052,027,520
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Globe says Paladin CEO expects Fission deal approval

2024-07-18 08:18 ET - In the News

The Globe and Mail reports in its Thursday edition that Australia's Paladin Energy believes its planned acquisition of Fission Uranium will pass a national-security probe, as Ottawa is examining China-based state-owned stakeholder CGN Mining. The Globe's Niall McGee writes that Paladin last month reached a friendly deal to buy Fission in an all-stock transaction worth $1.14-billion. Before finalizing the deal, it must be approved by Industry Minister Francois-Philippe Champagne, who is conducting a national security review. Paladin chief executive officer Ian Purdy said that meetings earlier this week with government officials about the transaction had gone well. He said, "The feedback from the government departments was very positive and very supportive of the deal in all aspects." Paladin earlier said the deal could close by the end of September, but that timeline could be pushed out if the 45-day security probe gets extended. Fission's biggest shareholder is CGN. CGN's parent is state-owned China Uranium Development. CGN has a seat on Fission's board and an offtake agreement to secure a certain amount of the uranium production from the Patterson Lake South uranium project over the duration of the mine's life.

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