Mustang Energy Corp. to Acquire Nucleus Uranium Ltd.
Deal News | May 05, 2025 | Globenewswire
Mustang Energy Corp., a resource exploration company, entered into an agreement to acquire Nucleus Uranium Ltd., a company based in British Columbia. The acquisition involves Mustang issuing 9 million common shares at a price of $0.26 per share to Nucleus's sole shareholder, Golden Mile Resources Corp. This acquisition will make Nucleus a wholly-owned subsidiary of Mustang, expanding their footprint in the Athabasca Basin, Saskatchewan, known for its rich uranium deposits. The transaction is expected to conclude by May 26, 2025, subject to standard closing conditions, including approvals from the Canadian Securities Exchange. Mustang Energy is focused on developing high-potential uranium and critical mineral assets, with significant exploration activities already underway in Northern Saskatchewan.
Sectors
- Uranium Mining
- Resource Exploration
Geography
- Canada – The acquisition deal involves companies based in Canada, specifically in British Columbia and Saskatchewan where the uranium projects are located.
Industry
- Uranium Mining – The acquisition of Nucleus Uranium Ltd. by Mustang Energy Corp. focuses on expanding their assets and capabilities in uranium mining, particularly in the Athabasca Basin, a region known for its rich uranium deposits.
- Resource Exploration – Mustang Energy Corp. is focused on acquiring and developing high-potential uranium and critical mineral assets, making resource exploration a primary industry in this acquisition.
Financials
- 9,000,000 – Number of Mustang Energy Corp. common shares to be issued to Nucleus's shareholder as part of the acquisition.
- $0.26 – Deemed price per Consideration Share issued to the shareholder of Nucleus.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mustang Energy Corp. | Acquiring Company | Company | A resource exploration company focused on uranium and critical mineral assets. |
| Nucleus Uranium Ltd. | Target Company | Company | A British Columbia-based uranium company owning the Nucleus Saskatchewan project. |
| Golden Mile Resources Corp. | Selling Company | Company | The sole shareholder of Nucleus Uranium Ltd. |
| Canadian Securities Exchange (CSE) | Regulatory Body | Government | The organization responsible for approving the acquisition. |
| Nicholas Luksha | Contact Person | Person | CEO and Director of Mustang Energy Corp. |