As per the deal, Uranerz shareholders will receive 0.255 common shares of Energy Fuels for each share of Uranerz.
Following the completion of the transaction, Energy Fuels shareholders will own around 45% stake, while Uranerz will own the remaining 55% share in the combined company.
The combined company will have access to White Mesa uranium mill in Utah and the Nichols Ranch ISR mine and plant in Wyoming and six uranium sales contracts extending to 2020.
Uranerz executive chairman Dennis Higgs said: "Together, we believe we can create a stronger company from the perspective of resources, diversification of production sources, production scalability, growth, working capital and market capitalization."
Subject to the certain approvals, the transaction is expected to be concluded in the mid this year.
