NexGen Energy (TSX:NXE) has announced that its affiliate, IsoEnergy (an entity in which NexGen currently holds 76 percent of the issued and outstanding common shares), has entered into an amalgamation agreement with AireSurf Network Holdings.
As quoted in the press release:
AireSurf will amalgamate (the “Amalgamation“) with a newly formed, wholly-owned subsidiary of IsoEnergy, by way of a “three-cornered amalgamation”. As a consequence of the Amalgamation, the amalgamated company will become a wholly-owned subsidiary of IsoEnergy and AireSurf shareholders will receive 0.020833 common shares of IsoEnergy for each one (1) common share of AireSurf held, representing approximately 1% of the outstanding shares of IsoEnergy. NexGen will retain a 76% interest in IsoEnergy following the Amalgamation. IsoEnergy will become a reporting issuer in Albertaupon completion of the Amalgamation. The Amalgamation is subject to a number of conditions, including AireSurf shareholder approval and that IsoEnergy’s common shares be accepted for listing on the TSX Venture Exchange. A meeting of AireSurf shareholders is scheduled for September 29, 2016and the transaction is scheduled to close on September 30, 2016. IsoEnergy has applied to list its common shares on the TSX Venture Exchange. Such listing is subject to IsoEnergy meeting all of the listing requirements of, and the satisfaction of any conditions imposed by, the TSX Venture Exchange.
The Amalgamation will not have any effect on the capitalization, financial condition or business of NexGen.
Click here to read the full press release.
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