Fission Uranium Struggles To Obtain Shareholder Support For Paladin Energy Transaction

Fission Uranium (TSX: FCU) appears to be struggling to obtain shareholder support for its proposed transaction with Paladin Energy (ASX: PDN). The company this morning was forced to delay its special meeting of shareholders to approve the transaction.

The firm this morning indicated that it has yet to obtain the approval of 66.6% of shareholders required for the transaction to proceed, but “based on a preliminary assessment of votes [..] the majority of votes cast to date support the arrangement.” Close to half of the votes needed to close the transaction are said to remain outstanding, with the company postponing the special meeting in an effort to gain more time to obtain approval.

The special meeting of shareholders, originally scheduled to take place today, as a result has been delayed until September 9, 2024.

READ: Métis Nation Demands Halt To Fission Uranium’s Patterson Lake South Project

Under the terms of the arrangement, Fission shareholders are to receive 0.1076 of a Paladin share for every share of Fission they hold. At the time of announcement, this figure represented $1.30 per share in consideration, a 25.8% premium for shareholders.

Fission Uranium last traded at $1.02 on the TSX.


Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Critical Minerals Are Rerating! | John Passalacqua – First Phosphate

This Isn’t A Gold Rally. It’s A Warning! | Adrian Day

The U.S. Just Put Real Money Behind Critical Minerals | Simon Clarke – American Critical Minerals

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

Fission Uranium To Conduct $30 Million Bought Deal

Fission Uranium Corp. (TSX: FCU) announced this morning that it will be conducting a bought...

Monday, May 3, 2021, 09:52:00 AM

Paladin Energy Completes Acquisition Of Fission Uranium, To List On TSX

ASX-listed Paladin Energy has completed its purchase of Fission Uranium Corp (TSX: FCU), which follows...

Tuesday, December 24, 2024, 08:04:32 AM

Métis Nation Demands Halt To Fission Uranium’s Patterson Lake South Project

The Métis Nation-Saskatchewan has issued a call to the federal and provincial governments to halt...

Friday, August 16, 2024, 03:02:00 PM

Paladin Energy Rallies On Record Output As Sales Fall 25% In Q1 FY2026

Paladin Energy (TSX: PDN) reported results for the quarter ended September 30, 2025, showing record...

Tuesday, October 14, 2025, 01:40:00 PM

Fission Uranium Stakes Four New Projects In Athabasca Basin

Fission Uranium (TSX: FCU) seems to think theres plenty of potential for new discoveries in...

Thursday, October 31, 2024, 09:11:07 AM