Business
Sachem Cove Announces Updated Holdings in Premier American Uranium Inc. and Filing of Early Warning Report
Sachem Cove Special Opportunities Fund, LP ("Sachem Cove") announces certain acquisitions and dispositions of beneficial ownership of Premier American Uranium Inc. ("PUR") pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103").
About this update from Premier American Uranium Inc
[{"type":"text","content":"TORONTO, Dec. 30, 2025 /CNW/ - Sachem Cove Special Opportunities Fund, LP ("Sachem Cove") announces certain acquisitions and dispositions of beneficial ownership of Premier American Uranium Inc. ("PUR") pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103").","length":373,"tagName":"p"},{"type":"text","content":"Between May and November 2024, Sachem Cove completed certain acquisitions ("Acquisitions") of common shares of PUR ("Common Shares") that were not reported in accordance with NI 62-103 due to inadvertence and in some cases not analyzed correctly under National Instrument 62-104 – Take-Over Bids ("NI 62-104") due to a misapprehension of the Ordinary Course Purchase Exemption under Section 4.1 of NI 62-104. The details of the Acquisitions are set out below.","length":489,"tagName":"p"},{"type":"text","content":"On May 7, 2024, Sachem Cove (as defined herein) acquired 409,000 subscription receipts of PUR (the "2024 Subscription Receipts") at a price of $2.45 per 2024 Subscription Receipt for aggregate consideration of $1,002,050. Each Subscription Receipt entitled the holder thereof to automatically receive, upon satisfaction or waiver, as applicable, of certain escrow release conditions (the "2024 Escrow Release Conditions") one unit of PUR comprised of one Common Share and one-half of one Common Share purchase warrant (each whole warrant, a "2024 SR Warrant"). Each 2024 SR Warrant entitles the holder to purchase one Common Share at a price of $3.50 per share until May 7, 2026.","length":709,"tagName":"p"},{"type":"text","content":"On June 27, 2024, pursuant to an arrangement agreement between PUR and American Future Fuel Corporation ("AMPS"), PUR acquired each of the issued and outstanding common shares of AMPS ("AMPS Shares") in exchange for 0.170 of a Common Share (the "AMPS Arrangement"). PUR issued an aggregate of 15,540,676 Common Shares under the AMPS Arrangement. As a shareholder of AMPS, Sachem Cove received 796,796 Common Shares in exchange for its AMPS Shares pursuant to the AMPS Arrangement and the common share purchase warrants of AMPS (the "AMPS Warrants") that it holds were adjusted such that...