Merger and Acquisition
Eagle Nuclear Energy signs binding LOI to acquire 100% of Noble Plains Uranium in all-stock deal
Headline consideration
CAD $0.125 per Noble Plains share
Deemed price, all-stock transaction
Interest acquired
100% of Noble Plains
Issued and outstanding common shares
Mineral resource
5.32M lbs Indicated; 1.04M lbs Inferred
Duck Creek, 100% basis, NI 43-101
Summary
Eagle Nuclear Energy Corp. (NASDAQ: NUCL) announced on 4 November 2026 that it has signed a binding Letter of Intent to acquire 100% of Noble Plains Uranium Corp. in an all-stock transaction. Under the LOI, Eagle will acquire all issued and outstanding Noble Plains common shares at a deemed price of CAD $0.125 per share. The transaction is subject to the negotiation and execution of a definitive agreement and customary closing conditions. Noble Plains is a U.S.-focused uranium exploration and development company advancing two In-Situ Recovery-amenable projects in Wyoming.
Consideration
| Component | Terms |
|---|---|
| Structure | All-stock transaction under a binding LOI, subject to a definitive agreement |
| Deemed price | CAD $0.125 per Noble Plains share |
| Exchange Ratio | 0.0167 Eagle shares for each Noble Plains share |
| Premium stated by Eagle | Approximately 92% to the closing price of Noble Plains shares on the TSXV on October 29, 2026 of CAD $0.065 |
| Anticipated ownership on closing | Existing Eagle stockholders approximately 95.22% and former Noble Plains shareholders approximately 4.78% of the equity of Eagle, on an issued and outstanding share basis |
| Duck Creek option obligations (first) | US$450,000 to the optionor plus the issuance of 1,500,000 Noble Plains shares or payment of an additional US$300,000 (at the optionor’s election) on or before the second anniversary of the option agreement |
| Duck Creek option obligations (second) | US$500,000 to the optionor plus the issuance of 1,250,000 Noble Plains shares or payment of an additional US$400,000 (at Noble Plains’ election) on or before the third anniversary of the option agreement |
| Assumption of option obligations | The Duck Creek option obligations would be assumed by Eagle on closing of the transaction |
Conditions
- Negotiation and execution of a definitive agreement
- Customary closing conditions
- Customary board, stock exchange and any necessary regulatory and shareholder approvals
Project snapshot
| Item | Detail |
|---|---|
| Project | Duck Creek, Powder River basin, Wyoming |
| Indicated | 5.32M lbs U₃O₈ |
| Inferred | 1.04M lbs U₃O₈ |
| Basis | Reported on a 100% basis; Noble Plains has an option to acquire an 80% interest |
| Reporting standard | Canadian National Instrument 43-101, as reported by Noble Plains |
| Technical report effective date | February 12, 2026 |
Source: Eagle Nuclear Energy announcement dated 4 November 2026. This page summarises information from the company's public announcement and is provided for general information only. It is not financial product advice, a recommendation or an offer, and it does not take into account any person's objectives, financial situation or needs. Figures and terms are taken from the announcement and may be incomplete or may have changed since publication. Refer to the original announcement for full details. Kamoa Capital has not independently verified the information.
