Under the deal, Macusani will buy Azincourt’s subsidiary Minergia by issuing 68,350,000 of its common shares.
Subject to regulatory approvals, the transaction is expected to be completed by the end of this month.
Azincourt will distribute the acquisition shares to its shareholders within five months of the closing of the deal.
Following the completion of the deal, Azincourt president and CEO Ted O’Connor will assume the role of CEO for Macusani. O’Connor and Azincourt chairman Ian Stalker will join Macusani’s board of directors.
Macusani Yellowcake focuses on the exploration of its properties on the Macusani Plateau in southeastern Peru. It owns a 99.5% interest in concessions that cover over 90,000 hectares.
