TORONTO - Uranium One Inc. announced Monday that the company will acquire all of the shares of Energy Metals Corporation (EMC).
Under the terms of the agreement, EMC shareholders will receive 1.15 common shares of Uranium One for each issued share of EMC, representing a value of C$19.12 per share.
After completion of the transaction, it is expected that current Uranium One shareholders will own approximately 79 percent of the combined company and current EMC shareholders will own approximately 21 percent.
The combination has been unanimously approved by the Boards of Directors of each of Uranium One and EMC.
Upon completion of the acquisition, EMC Chairman William M. Sheriff will be appointed to the board of directors of Uranium One. Subject to Uranium One shareholder approval to increase the number of directors, EMC will be entitled to nominate a second non-Canadian representative to the board of directors of Uranium One.