VANCOUVER, BC, May 28, 2024
/PRNewswire/ - NexGen Energy Ltd. ("NexGen" or the
"Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to
announce that it has closed its previously announced purchase (the
"Purchase") of 2,702,410 pounds natural uranium concentrate
("U3O8") for an aggregate purchase price of
US$250 million, which was satisfied
through the issuance of US$250
million aggregate principal amount of five year, 9.0% per
annum (payable 2/3 cash and 1/3 common shares) unsecured
convertible debentures (the "Debentures"), in accordance with the
previously disclosed terms including entering into investor rights
agreements with the holders of Debentures containing voting
alignment, standstill, anti-hedging and sale and transfer
restriction covenants.
Leigh Curyer, Chief Executive Officer, commented: "This
transaction further optimizes the advancement of the offtake
negotiations which are underway and progressing well. This
transaction is designed to ultimately maximize the value of the
significant uranium inventory that we will have as we look ahead to
production and sales. Further, having access to 2.7 million
pounds of uranium at surface in inventory will no doubt prove to be
increasingly strategic given the recent passing of the Prohibiting
Russian Uranium Imports Act into US law. The current offtake
discussions tie into the project financing process which is
progressing in anticipation of full project approvals. With
the responses to the final 49 aspects of the technical review
process submitted to the Canadian Nuclear Safety Commission on
May 21, 2024, we are advancing the
project through final detailed designs and procurement activities
in line with our objectives and schedule."
The securities referenced herein have not been and will not be
registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United
States absent registration or an applicable exemption from
the registration requirements thereof.
About NexGen
NexGen Energy is a Canadian company focused on delivering clean
energy fuel for the future. The Company's flagship Rook I
Project is being optimally developed into the largest low cost
producing uranium mine globally, incorporating the most elite
standards in environmental and social governance. The Rook I
Project is supported by a NI 43-101 compliant Feasibility Study
which outlines the elite environmental performance and industry
leading economics. NexGen is led by a team of experienced uranium
and mining industry professionals with expertise across the entire
mining life cycle, including exploration, financing, project
engineering and construction, operations and closure. NexGen
is leveraging its proven experience to deliver a Project that leads
the entire mining industry socially, technically and
environmentally. The Project and prospective portfolio in
northern Saskatchewan will provide
generational long-term economic, environmental, and social benefits
for Saskatchewan, Canada, and the
world.
NexGen is listed on the Toronto Stock Exchange, the New York
Stock Exchange under the ticker symbol "NXE" and on the Australian
Securities Exchange under the ticker symbol "NXG" providing access
to global investors to participate in NexGen's mission of solving
three major global challenges in decarbonization, energy security
and access to power. The Company is headquartered in
Vancouver, British Columbia, with
its primary operations office in Saskatoon, Saskatchewan.
Forward-Looking Information
The information contained herein contains "forward-looking
statements" within the meaning of applicable United
States securities laws and regulations and "forward-looking
information" within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is not
limited to, statements with respect to maximizing the value of the
Company's uranium endowment, expected project financing
discussions progressing in anticipation of full approvals, delivery
of clean energy fuel for the future, the development of the largest
low cost producing uranium mine globally and incorporating elite
standards in environmental and social governance, and delivering a
project that leads the entire mining industry socially, technically
and environmentally, providing generational long-term economic,
environmental and social benefits for Saskatchewan, Canada and the world. Generally,
forward-looking information and statements can be identified by the
use of forward-looking terminology such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation
thereof or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved" or the negative
connotation thereof.
Forward-looking information and statements are based on
NexGen's current expectations, beliefs, assumptions, estimates and
forecasts about its business and the industry and markets in which
it operates. Forward-looking information and statements are made
based upon numerous assumptions, including, among others; the
supply, demand and price of uranium; the cost of planned
exploration and development activities; that, as plans continue to
be refined for the development of the Rook I Project, there will be
no changes in costs, engineering details or specifications that
would materially adversely affect its viability; that financing
will be available if and when needed and on reasonable terms; that
third-party contractors, equipment, supplies and governmental and
other approvals required to conduct NexGen's planned exploration
and development activities will be available on reasonable terms
and in a timely manner; that there will be no revocation of
government approvals; that general business, economic, competitive,
social and political conditions will not change in a material
adverse manner; the assumptions underlying the Company's mineral
reserve and resource estimates; assumptions made in the
interpretation of drill results and other geological information;
the ability to achieve production on the Rook I Project;
other estimates, assumptions and forecasts disclosed in the
Feasibility Study for the Rook I Project; and supply and demand
conditions will lead to a pricing surge. Although the assumptions
made by the Company in providing forward-looking information or
making forward-looking statements were considered reasonable by
management at the time they were made, there can be no assurance
that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual results, performances and achievements of NexGen to
differ materially from any projections of results, performances and
achievements of NexGen expressed or implied by such forward-looking
information or statements, including, among others, negative
operating cash flow and dependence on third-party financing,
uncertainty of additional financing, the risk that pending assay
results will not confirm previously announced preliminary results,
the imprecision of mineral reserve and resource estimates, the
price and appeal of alternate sources of energy, sustained low
uranium prices, aboriginal title and consultation issues,
exploration and development risks, climate change, uninsurable
risks, reliance upon key management and other personnel, risks
related to title to its properties, information security and cyber
threats, failure to manage conflicts of interest, failure to obtain
or maintain required permits and licenses, changes in laws,
regulations and policy, competition for resources, political and
regulatory risks, general inflationary pressures, industry and
economic factors that may affect the business, and other factors
discussed or referred to in the Company's most recent Annual
Information Form under "Risk Factors" and management's discussion
and analysis under "Other Risks Factors" filed on SEDAR+
at www.sedarplus.ca and 40-F filed on Edgar
at www.sec.gov
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or statements or
implied by forward-looking information or statements, there may be
other factors that cause results not to be as anticipated,
estimated or intended. Readers are cautioned not to place
undue reliance on forward-looking information or statements due to
the inherent uncertainty thereof.
There can be no assurance that forward-looking information
and statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking statements or information. The Company
undertakes 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 NexGen Energy Ltd.