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Nexus Uranium and Basin Uranium Announce Merger to Create North American-Focused Uranium Exploration Company
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2025) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) ("Nexus") and Basin Uranium Corp. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin") are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") dated June 25, 2025, providing for, among other matters, the acquisition by Nexus of 100% of the outstanding common shares of Basin ("Basin Shares") under a statutory plan of arrangement, .
About this update from Nexus Uranium Corp
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - June 26, 2025) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) ("Nexus") and Basin Uranium Corp. (CSE: NCLR) (CNSX: NCLR.CN) ("Basin") are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") dated June 25, 2025, providing for, among other matters, the acquisition by Nexus of 100% of the outstanding common shares of Basin ("Basin Shares") under a statutory plan of arrangement, (the "Arrangement"). Pursuant to the Arrangement, Nexus will issue an aggregate of 30,000,000 Nexus common shares ("Nexus Shares") to Basin shareholders representing approximately 1.1 of a Nexus share for each Basin share based on the number of Basin Shares issued and outstanding as at the date of this news release. In addition, as part of the Arrangement, Basin shareholders will receive 3,000,000 shares common shares ("SpinCo Shares") of a subsidiary of Basin, ("Basin SpinCo"), on the basis of approximately 0.11 of a SpinCo Share for every Basin Share held. The transaction represents total consideration for Basin shareholders of $3.6 million or $0.137 per Basin share based on Nexus shares ($3.0 M or $0.115/sh) plus SpinCo Shares (attributable pre-money valuation of $0.022/sh), or an approximate 10% premium based on the closing prices prior to the announcement.","length":1452,"tagName":"p"},{"type":"text","content":"Strategic Rationale of the Transaction","length":38,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"North American Focused Exploration & Development Company with a portfolio of six uranium projects including the Cree East and Mann Lake projects located in the high-grade Athabasca Basin of Saskatchewan, and four potentially ISR-amenable US projects underscored by the resource-stage Chord uranium project in South Dakota (the "Chord Project").","length":358,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Improved Access to Capital, Stronger Balance Sheet and improved liquidity with a more diversified shareholder base and enhanced market capitalization.","length":150,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Benefits from recent North American (N.A.) Uranium Market Developments...