Eagle Nuclear Energy Corp. (NUCL) has entered into a binding letter of intent (LOI) to acquire all issued and outstanding shares of Noble Plains Uranium Corp. in an all-stock transaction. The proposed acquisition, effective October 30, 2026, aims to make Noble Plains a wholly-owned subsidiary of Eagle Nuclear, expanding its domestic uranium resource portfolio into Wyoming.
Key Details
- Offer Price: The offer is valued at CAD $0.125 per Noble Plains share, representing an approximate 92% premium to its closing price on the TSXV on October 29, 2026.
- Transaction Terms: The deal will be structured as an all-stock transaction with a fixed exchange ratio. The aggregate number of shares issuable by Eagle is not expected to exceed 19.9% of its currently outstanding common stock.
- Bridge Loan & Break Fee: Eagle has agreed to provide a secured bridge loan of up to CAD $500,000 to Noble Plains. The LOI also establishes a reciprocal break fee of US$400,000 payable under certain conditions.
- Next Steps: The transaction is subject to a 60-day due diligence and exclusivity period, the negotiation of a definitive agreement, and the satisfaction of customary closing conditions, including shareholder and regulatory approvals.