92 Energy (ASX:92E) shares will tonight list on the Toronto ventures stock exchange (TSXV) through a merger with ATHA Energy Corp.
92E has won approval to do so from the relevant regulators in Canada with all ATHA shares to be delisted off the TSXV come 4 March 2024 Canada time – for Australian readers, that’s tonight.
Existing shareholders were encouraged by the company to check with their brokers if they offer trades on the TSXV, and if not, to contact Canaccord Genuity at a dedicated email address.
The TSXV is seen as a ‘springboard’ into the heavier-weighted TSX index proper.
92E is also to go ahead with a plan alongside Canada Securities Exchange-listed (CSE) Latitude Uranium to acquire all of the issued and outstanding shares in Latitude.
That deal has already been ticked off by the Canadian courts.
A scheme meeting attached to the deal remains the subject of a shareholder meeting in Perth set for March 25th at the BDO offices.
92E directors are unanimously recommending shareholders vote in favour of that scheme.
The listing onto the TSXV comes as uranium prices sit around all-time-highs, should one ignore an anomalous period between 2006 and 2007, when looking at NYMEX uranium futures.
However, after weeks of hovering above the US$100/lb mark for yellowcake product, the price of uranium on the NYMEX slipped down to US$95/lb late last week.
This drop marks the first correction below US$100/lb for uranium prices in weeks.
Canadian producer Cameco recently told the world it would boost uranium production, which appears to be outweighing – in the minds of traders, at least – anticipated supply shortfalls stemming from Kazakhstan.
In the latter jurisdiction, Kazatomprom, a Russian-backed uranium producer, has flagged production issues will haunt it through 2024.
92 Energy (ASX:92E) shares were up 5.21% to 50.5cps near lunchtime on Monday.