NexGen Announces Closing of Strategic Purchase of 2.7 Million Pounds of Uranium

About this update from Nexgen Energy Ltd.

NexGen Announces Closing of Strategic Purchase of 2.7 Million Pounds of Uranium /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } Canada NewsWire VANCOUVER, BC , May 28, 2024 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that it has closed its previously announced purchase (the "Purchase") of 2,702,410 pounds natural uranium concentrate ("U 3 O 8 ") for an aggregate purchase price of US$250 million , which was satisfied through the issuance of US$250 million aggregate principal amount of five year, 9.0% per annum (payable 2/3 cash and 1/3 common shares) unsecured convertible debentures (the "Debentures"), in accordance with the previously disclosed terms including entering into investor rights agreements with the holders of Debentures containing voting alignment, standstill, anti-hedging and sale and transfer restriction covenants. Leigh Curyer, Chief Executive Officer, commented: "This transaction further optimizes the advancement of the offtake negotiations which are underway and progressing well.  This transaction is designed to ultimately maximize the value of the significant uranium inventory that we will have as we look ahead to production and sales.  Further, having access to 2.7 million pounds of uranium at surface in inventory will no doubt prove to be increasingly strategic given the recent passing of the Prohibiting Russian Uranium Imports Act into US law. The current offtake discussions tie into the project financing process which is progressing in anticipation of full project approvals.  With the responses to the final 49 aspects of the technical review process submitted to the Canadian Nuclear Safety Commission on May 21, 2024 , we are advancing the project through final detailed designs and procurement activities in line with our objectives and schedule." The securities referenced herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereof. About NexGen NexGen Energy...

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