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C2C Gold ( (TSE:UE) ) has provided an update.
Aero Energy, Urano Energy and Pegasus Resources have agreed to merge their businesses under a new banner, Manhattan Uranium Discovery Corp., in a share-based transaction that will see Aero acquire all outstanding shares of Urano and Pegasus. Following completion, Urano shareholders are expected to own about 49.3% of the combined company, Aero shareholders 44.2% and Pegasus shareholders 6.5%, with the new entity trading under the symbol MANU.
Management teams say the deal creates a larger, more visible North American pure-play uranium platform with a consolidated asset base of past-producing mines and exploration properties positioned for sector growth. Executives expect the increased scale, broader project pipeline and combined technical and capital markets expertise to improve access to capital, sharpen project prioritization and strengthen the group’s positioning as uranium gains importance in regional energy security and fuel supply chains.
More about C2C Gold
Aero Energy, Urano Energy and Pegasus Resources operate in the uranium exploration and development industry, focusing on North American projects. Their combined portfolio includes 15 past-producing uranium mines and 25 largely underexplored properties in the United States, along with high-grade exploration potential in Canada’s Athabasca Basin, targeting growing demand linked to energy security and nuclear power.
Average Trading Volume: 165,020
Technical Sentiment Signal: Sell
Current Market Cap: C$17.38M
See more insights into UE stock on TipRanks’ Stock Analysis page.