Noble Plains Uranium Announces Binding Letter of Intent for Proposed Acquisition by Eagle Nuclear Energy
Key Highlights
- ➤Eagle proposes acquiring Noble Plains in an all-share transaction at C$0.125 per share
- ➤Offer price represents a 92% premium to Noble Plains’ October 29 closing price
- ➤Noble Plains shareholders would receive 0.0167 Eagle shares per Noble Plains share
- ➤Eagle’s Aurora deposit has 32.75Mlbs indicated and 4.98Mlbs inferred U(3)O(8) resources
- ➤Eagle will provide Noble Plains a secured bridge loan of up to C$500,000
Expert Statements
Drew Zimmerman, President and CEO of Noble Plains Uranium
“Eagle Nuclear's offer follows a site visit, a review of our technical data and meetings with our team. Their Offer Price represents a premium of approximately 92% to our October 29 closing price which management believes speaks to the quality of our projects. Our team has built that value on our projects in the prominent Powder River and Shirley Basins. Earlier this year we put out a maiden resource at Duck Creek with additional trend along strike and the deeper Fort Union Formation has not yet been drill tested. At Shirley Central, all seven recent confirmation holes intersected uranium mineralization.”
Mark Mukhija, CEO of Eagle Nuclear Energy
“This transaction gives Eagle greater scale at a time when the need for domestic U.S. uranium production is growing.”
Mark Mukhija, CEO of Eagle Nuclear Energy
“Noble Plains adds established resources in Wyoming and strengthens our portfolio with favorable ISR geology.”
Mark Mukhija, CEO of Eagle Nuclear Energy
“We believe we can move these assets forward efficiently while we continue to work towards development of an integrated nuclear energy platform combining domestic uranium resources with advanced SMR technology.”
Highlights * A 92% premium. The C$0.125 Offer Price is nearly double the October 29, 2026 closing price of C$0.065. * Increased Uranium Exposure. Shareholders would receive Eagle Nuclear shares. Keeping their exposure to advancements at Duck Creek and Shirley Central while also gaining exposure to Eagle Nuclear's Aurora Uranium Project, a conventional uranium deposit in the United States, located in southeastern Oregon. * A Nasdaq platform. Noble Plains shareholders move into a Nasdaq-listed company with direct access to U.S. capital markets. * Funded through the process. Eagle Nuclear will make available a secured bridge loan of up to C$500,000 to Noble Plains while the Proposed Transaction advances. * Holder protections built in. A fixed exchange ratio. All warrants remain outstanding, exercisable for Eagle Nuclear shares and stock options roll into Eagle Nuclear options. * Commitment on both sides. The LOI includes a reciprocal US$400,000 break fee, and the definitive agreement will include reciprocal termination fees. * A clear path forward. A 60-day due diligence and exclusivity period, a targeted definitive agreement within 60 days.
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