US$105 million ($147.24 million)-backed DISA Uranium has agreed to acquire four uranium projects from Premier American Uranium (TSX-V:PUR) and invest US$5 million in the exploration company.
Premier American will sell its Outlaw Mesa, Atkinson Mesa, Monogram Mesa, and Slick Rock projects in Colorado, US, for US$2 million worth of DISA shares. It will also receive warrants to acquire an equivalent number of shares.
Under the concurrent investment, DISA will acquire Premier American subscription receipts at C$0.75 each, a 41.5% premium to the company’s 14 September closing price. The receipts will convert into common shares once the transaction conditions are met, giving DISA an estimated 8.7% interest.
DISA formed in August through a transaction with IsoEnergy (TSX:ISO), which contributed a portfolio of permitted, past-producing uranium mines and projects in Utah.
The private company concurrently completed a US$105 million placement backed by investors including Tembo Capital, BHP Group (ASX:BHP) subsidiary BHP Ventures, and Valor Equity Partners.
Premier American CEO Colin Healey says the agreement allows the company to monetise non-core assets while retaining exposure to the Colorado portfolio through its DISA securities.
“This relationship extends beyond the sale of our non-core Colorado assets. We see meaningful opportunities to collaborate across our broader US portfolio, including evaluating the potential application of DISA Uranium’s HPSA™ technology and future regional processing infrastructure,” Healey says.
DISA CEO Greyson Buckingham is expected to join Premier American’s board following completion.
The transaction remains subject to US Department of Energy and TSX Venture Exchange approvals. The US$5 million investment will remain in escrow until the conditions are met and must be returned if they remain outstanding after 13 June 2027.
Premier American Uranium is advancing the Cebolleta, Kaycee, and Cyclone uranium projects across New Mexico and Wyoming, US.
Write to France Pinzon at Mining.com.au
Images: Premier American Uranium
