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Uranium Royalty Shareholders Approve Sweetwater Deal; CFO to Step Down

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Uranium Royalty (URC.TO) said Monday after trade that its shareholders approved its acquisition of the Sweetwater Entities, which has landholdings in Wyoming, Utah, and Colorado.

Per the deal, Uranium Royalty and the Sweetwater Entities will be combined under a newly formed Delaware-based parent company, New URC, Uranium Royalty said, adding the transaction is still subject to final court approval and other customary closing conditions. It is set to close around July 27.

Following the closing, New URC is expected to begin trading on the Nasdaq around July 28. Uranium Royalty's shares are set to be delisted from the Toronto Stock Exchange around the same date, and the company is expected to cease being a reporting issuer in Canada, it said.

Separately, Chief Financial Officer Andy Marshall will step down July 29 to pursue other opportunities. Eason Chen will serve as interim CFO, Uranium Royalty added.

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