On December 5, 2023, IsoEnergy Ltd. acquired all the issued and outstanding shares of Consolidated Uranium Inc. in a merger to create a uranium company with an estimated equity value of approximately $903.5 million.
Shareholders of Consolidated Uranium received 0.5 of an IsoEnergy share for each common share of Consolidated Uranium. Existing IsoEnergy and Consolidated Uranium shareholders will own approximately 70.5 percent and 29.5 percent of the combined company, respectively.
In connection with the arrangement, IsoEnergy also entered into an agreement with Canaccord Genuity, TD Securities and Eight Capital on behalf of a syndicate of agents for a private placement of subscription receipts for gross proceeds of $35.1 million.
Stikeman Elliott acted as legal counsel to IsoEnergy with a team that includes Steven Bennett, Stuart Ruffolo, David Morson (M&A/Securities); Michael Kilby, David Feldman (Competition); John O'Connor, Sarah Visentin (Tax); Patrick Welsh (Environmental); Natasha vandenHoven (Pensions); Nancy Ramalho (Employment).
Cassels Brock & Blackwell LLP acted as legal counsel to Consolidated Uranium with a team that includes Jamie Litchen, Randall Blom, John D.M. Norman, Stephen Abosi, Davit Akman, Eric Buist, Tera Li Parizeau, Ashley Jung, Stephanie Voudouris, Carly Valentine, Caitlin Russell, Carla Potter, and Lauren White.