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NexGen Announces Strategic Purchase of 2.7 Million Pounds of Uranium with Issuance of US$250 Million Convertible Debenture
NexGen Announces Strategic Purchase of 2.7 Million Pounds of Uranium with Issuance of US$250 Mill...
About this update from Nexgen Energy Ltd.
[{"type":"text","content":"\n \n \n \n NexGen Announces Strategic Purchase of 2.7 Million Pounds of Uranium with Issuance of US$250 Million Convertible Debenture\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 8, 2024\n \n \n /CNW/ -\n \n \n NexGen Energy Ltd. (\"NexGen\" or the \"Company\")\n \n \n \n (TSX: NXE)\n \n \n (NYSE: NXE) (ASX: NXG) is pleased to announce that it has entered into a binding term sheet with MMCap International Inc. SPC (\"MMCap\") for the purchase (the \"Purchase\") of 2,702,410\n \n \n pounds\n \n \n natural uranium concentrate\n \n \n (\"\n \n U\n \n 3\n \n O\n \n 8\n \n \n \") for an aggregate purchase price of\n \n US$250 million\n \n based on the five day average UxC spot price.\n \n \n \n \n \n \n \n \n \n \n \n In satisfaction of the purchase price for the U\n \n 3\n \n O\n \n 8,\n \n \n \n the Company has agreed to issue\n \n US$250 million\n \n aggregate principal amount of unsecured convertible debentures (the \"Debentures\"). The Debentures will be convertible at the holder's option into approximately 23\n \n \n million common shares of NexGen (the \"Common Shares\") equivalent to ~4.3% of the Company's issued and outstanding Common Shares.\n \n \n \n \n Upon closing of the previously announced Australian Chess Depository Interest (\"CDI\") offering, as well as this transaction with MMCap, the Company will have\n \n ~C$600 million\n \n in cash and\n \n US$250 million\n \n worth of physical uranium on its balance sheet.\n \n \n \n \n Leigh Curyer, Chief Executive Officer, commented: \"At a time when available physical uranium is extremely tight and expected to continue to be scarce given the long-term supply deficit, this purchase represents a strong opportunity for the Company to bolster its marketing discussions and optimises the optionality of project financing structures under evaluation.  The Company is at a pivotal time, shaping the industry towards transparency, whilst prioritising local community engagement and participation in\n \n ...