TSX- and Nasdaq-listed Uranium Royalty Corp (URC) has completed its previously announced plan of arrangement to merge its assets with those held by Sweetwater Royalties and form a new company, New URC.

Under the terms of the arrangement, announced in April, certain affiliated entities of Orion Resource Partners and HRG Metals, a subsidiary of the Ontario Teachers’ Pension Plan, contributed and sold their about 92% interest in certain entities holding trona royalty assets and landholdings in Wyoming, Utah and Colorado, in the US, to New URC.

"We are thrilled to embark on this historic next step for URC,” says New URC CEO, president and director Scott Melbye.

He notes that the company’s extensive land ownership, encompassing one of the world’s largest known trona, or soda ash, resources, and including five currently operating mines positioned among the lowest on the global cost curve, is expected to provide steady cash flows to advance the company’s uranium aspirations at a time of significant nuclear energy growth.

He says the company's more than five-million-acre land position provides significant optionality, supported by growing US policy initiatives to expand domestic production of critical minerals and oil and gas.

The arrangement was approved by shareholders of the company on July 20 and by a final order of the Supreme Court of British Columbia on July 23.

The common stock of New URC will be listed and posted for trading on the Nasdaq as of the opening of trading on July 28.

The URC shares will be delisted from the TSX effective as of the close of market on July 28. URC has applied to cease to be a reporting issuer under applicable Canadian securities laws.

“URC also welcomes its two newest and largest shareholders in Orion and Ontario Teachers’ Pension Plan. Their cooperative and constructive efforts to conclude this mutually beneficial transaction are greatly appreciated,” says Melbye.

The company explains that New URC’s assets are expected to strengthen the company’s balance sheet and support its strategy of pursuing additional value-enhancing uranium royalty acquisitions.

The arrangement is also expected to be accretive to net asset value, cash flow and earnings a share.

Moreover, the company says the soda ash operations are advancing expansions that are expected to increase attributable production capacity by more than 60% without additional capital investment from New URC.

Greenfield projects, oil and gas leasing, critical minerals and renewable development opportunities provide further potential for longer-term growth.

Moreover, New URC’s land position provides potential for uranium exploration in Wyoming, the leading US state for uranium production and resources.