Snow Lake Resources Ltd. (NASDAQ: LITM) announced on October 6, 2025 that it has entered into a definitive agreement to acquire 100 % of the shares and options of Global Uranium and Enrichment Limited (GUE) that it does not already own, creating a U.S.‑focused nuclear fuel‑cycle company with one of the largest portfolios of uranium exploration and development projects in the United States.
Under the transaction, Snow Lake will issue A$0.0968 in Snow Lake shares for each GUE share held, resulting in an implied equity value of A$44.5 million and an enterprise value of A$41.5 million. The consideration represents a 40.3 % premium to GUE’s closing price on October 3, 2025 and a 54.8 % premium to its 30‑day volume‑weighted average price. Snow Lake will own 67 % of the combined entity, while GUE shareholders will hold 33 % after the transaction.
The combined group will be well‑capitalised, with a pro‑forma market capitalisation of approximately US$76.7 million and roughly US$18.5 million in cash. The transaction is expected to close in Q1 2026, subject to customary closing conditions such as shareholder approval, court approval, and Australian Foreign Investment Review Board clearance.
Strategically, the deal consolidates Snow Lake’s 50/50 joint venture with GUE on the Pine Ridge uranium project in Wyoming, accelerates the development of Pine Ridge toward an expedited production pathway, and expands the company’s exposure to the broader nuclear fuel cycle through a shareholding in Ubaryon and a partnership with Exodys Energy. The acquisition positions Snow Lake as one of the fastest‑growing U.S.‑focused uranium exploration and development companies, aligning with U.S. national energy‑security priorities and the growing demand for domestic uranium supply.
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