Page 5 - John Borshoff News Today

Today marks the first day Deep Yellow Limited (ASX:DYL) (FRA:JMI) (OTCMKTS:DYLLF) is operating as a significantly larger uranium company, following the successful merger with Vimy Resources Limited (Vimy) announced on 31 March 2022.

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Australia-based uranium explorer Deep Yellow has agreed to merge with rival Vimy Resources in an all-stock deal worth $492m (A$658m).

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Deep Yellow Limited (ASX:DYL) (FRA:JMI) (OTCMKTS:DYLLF) and Vimy Resources Limited (ASX:VMY) (OTCMKTS:VMRSF) are pleased to announce that they have entered into a Scheme Implementation Deed, under which the two companies propose to merge by way of a recommended court-approved scheme of arrangement between Vimy and its shareholders.

Knocked back in November, merged in March — advanced uranium plays Deep Yellow (ASX: DYL) and Vimy Resources (ASX: VMY) have at last found common ground in a merger of their Australian and Namibia projects in a deal that creates a $658 million operation.

The deal comes as uranium prices nearly doubled last year amid a global push for renewable power.

Australian uranium companies Deep Yellow and Vimy Resources have agreed to a merger by a Scheme of Arrangement, under which Deep Yellow will acquire 100% of Vimy's shares. The merger will bring together the two companies' complementary asset bases including the Mulga Rock uranium project in Western Australia and the Tumas project in Namibia.

Deep Yellow Limited (ASX:DYL) (FRA:JMI) (OTCMKTS:DYLLF) references its announcement dated 19 November 2021 and its proposal to acquire Vimy Resources Limited (ASX:VMY) (Vimy) by a scheme of arrangement, which lapsed after limited engagement from the Board of Vimy.