Nuclear Fuels Shareholders OK Deal with Premier American Uranium

VANCOUVER, BC – Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) and Premier American Uranium Inc. (TSXV: PUR) (OTCQB: PAUIF) announced today that Nuclear Fuels’ shareholders have overwhelmingly approved the previously announced merger plan, signaling confidence in the strategic combination aimed at bolstering the domestic uranium supply chain.

At a special meeting, a resounding 95.08% of Nuclear Fuels shareholders voted in favor of the statutory plan of arrangement. What’s particularly noteworthy is that even when excluding votes from significant shareholders to adhere to minority security holder protections, the deal still garnered strong support.

Under the terms of the agreement, Nuclear Fuels shareholders will receive 0.33 shares of Premier American Uranium for each share of Nuclear Fuels they hold. This values Nuclear Fuels (based on current market conditions and subject to change) at a premium, reflecting the perceived synergies and potential of the combined entity.

The deal isn’t quite sealed yet. It still requires final approval from the Supreme Court of British Columbia (scheduled for August 18th), the TSX Venture Exchange, and the satisfaction of standard closing conditions. However, both companies are optimistic about closing the transaction around August 25th.

Greg Huffman, CEO of Nuclear Fuels, expressed his enthusiasm: “The strong shareholder support validates our belief that combining these two companies will create significant value. I am excited to join the Board of Directors at Premier American Uranium and work alongside Colin Healey to advance new sources of clean American uranium.” This hints at a smooth integration and a unified vision for the future.

This merger comes at a crucial time for the uranium market. With growing global demand for clean energy and increasing geopolitical tensions, securing domestic uranium supplies is becoming a strategic imperative. By combining Nuclear Fuels’ exploration assets with Premier American Uranium’s development expertise and existing land holdings, the merged company aims to become a key player in the re-emerging U.S. uranium sector. Investors are keen to see how this integrated approach will drive efficiencies and unlock untapped potential. More details of the voting can be found at www.sedarplus.ca.

About Nuclear Fuels Inc.

Nuclear Fuels Inc. is focused on uranium exploration, particularly in the U.S., utilizing historical data and expertise to advance in-situ recovery (ISR) uranium projects. Its Kaycee district consolidation in Wyoming’s Powder River Basin, supported by drilling programs and a strategic relationship with enCore Energy Corp., aims to expand resources across a defined trend.

About Premier American Uranium Inc.

Premier American Uranium is focused on consolidating, exploring, and developing uranium projects in the United States. They hold significant land positions in key uranium-producing regions like New Mexico’s Grants Mineral Belt, Wyoming’s Great Divide Basin, and Colorado’s Uravan Mineral Belt. Supported by strategic partnerships and an experienced team, they are committed to strengthening domestic energy security.

The Canadian Securities Exchange and TSX Venture Exchange do not accept responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Cautionary Statements

This news release contains “forward-looking information” regarding expectations, timing, and potential outcomes of the Plan of Arrangement. These statements are based on assumptions and subject to risks, including regulatory approvals, court rulings, exchange approvals, and the satisfaction of closing conditions, which could impact actual results. The Company and Premier American Uranium undertake no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

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SOURCE Nuclear Fuels Inc.