Aero Energy merger with Urano, Pegasus effective in coming days
The shareholders of Canadian companies Urano Energy Corporation and Pegasus Resources have approved an acquisition whereby Aero Energy Limited will merge itself and the two companies to establish a North American uranium company called Manhattan Uranium Discovery Corporation.
The combined entity will focus on assets in Saskatchewan's Athabasca basin and the US Colorado Plateau. Together, the consolidated entity will have 15 past-producing mines on 25 properties in the US.
Pegasus’ flagship project is the Jupiter uranium project in Utah, a drill-ready property positioned for resource expansion, while Urano holds various mining lode claims and historic resources in the Colorado Plateau.
Aero, in turn, controls a district-scale land package in Saskatchewan's Athabasca basin, including its Strike and Murmac projects, which collectively host dozens of shallow drill-ready targets on the north rim of the Athabasca basin.
Aero expects the new company’s shares to start trading on or about May 7 on the TSX-V under the new “MANU” ticker symbol.
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