Uranium Royalty Completes Sweetwater Merger, Forms New URC
Uranium Royalty Corp. (URC) has completed its previously announced plan of arrangement, combining with the Sweetwater Entities to form a new U.S.-domiciled parent company, New URC. This landmark transaction creates a leading uranium and land royalty company, significantly expanding New URC's asset base with extensive trona royalty assets and landholdings, including approximately 850,000 acres of fee surface rights and 4.5 million acres of mineral rights. The deal, valued at approximately US$1.14 billion, was funded by US$330 million in cash and 223,252,749 New URC Shares, and supported by a new US$50 million credit facility. New URC's common stock will be listed on NASDAQ, while URC shares will be delisted from the TSX.
Key Highlights
- Completed plan of arrangement combining Uranium Royalty Corp. with Sweetwater Entities.
- Formed new U.S.-domiciled parent company, New URC, now listed on NASDAQ.
- Acquired 92% interest in Sweetwater Entities, adding trona royalty assets and landholdings.
- New URC is the second largest public-company landowner in the U.S. with 850,000 acres fee surface rights and 4.5M acres mineral rights.
- Total consideration for Sweetwater Entities was approximately US$1.14 billion (US$330 million cash + 223,252,749 New URC Shares).
- Existing URC shareholders hold 41% of New URC, Orion Sellers 43%, and OTPP 16%.
- Secured a US$50 million senior secured revolving credit facility from Bank of Montreal, drawing US$40 million as bridge financing.
- URC Shares will be delisted from TSX effective July 28, 2026.
Price Impact
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