PERTH (miningweekly.com) – Uranium developer Black Range Minerals has executed a definitive merger implementation agreement with Canada’s Western Uranium.
In January, Western Uranium launched an A$18.5-million takeover offer for ASX-listed Black Range, offering one of its own shares for every 750 Black Range shares held.
In order to ensure Black Range had sufficient working capital in the period up to completing the transaction, Western Uranium would provide a secured loan facility of up to A$450 000.
The Black Range board had previously recommended that shareholders approve the offer in the absence of a superior proposal, and subject to an independent expert’s report