Energy Fuels could close acquisition of Strathmore before the end of the week

(Riverton, Wyo.) – After announcing earlier this summer that Energy Fuels Inc. intended to acquire Strathmore Mineral Corp., the acquisition is expected to be complete before the end of the week.

On Aug. 21 the Supreme Court of British Columbia issued its Final Order in respect of the transaction in accordance with the Business Corporations Act of British Columbia. In its Final Order, the Court approved the Arrangement, holding that the Arrangement is procedurally and substantively fair and reasonable to holders of Strathmore common shares, options and restricted stock units.

On Aug. 27, the Company received a clearance letter from the Committee on Foreign Investment in the United States. The Clearance Letter was issued by CFIUS following a 30-day review pursuant to a joint notice submitted by Energy Fuels and Strathmore. Issuance of the Clearance Letter is an important regulatory milestone required for the closing of the Transaction.

As a result of the Final Order and today’s receipt of the clearance letter, Energy Fuels expects to complete the transaction at 11:59 p.m. (Eastern) on August 30, 2013, subject to the satisfaction of certain customary closing conditions. The Company had previously announced that it expected the Transaction to be completed on Aug. 28.

Read more about the transaction here.

About Energy Fuels Inc.

Energy Fuels Inc. is America’s largest conventional uranium producer, supplying approximately 25% of the uranium produced in the U.S., and is also a significant producer of vanadium. The company operates the White Mesa Mill, which is the only conventional uranium mill currently operating in the U.S., capable of processing 2,000 tons per day of uranium ore. Energy Fuels has projects located throughout the Western U.S., including producing mines and mineral properties in various stages of permitting and development.

About Strathmore Minerals Corp.

Strathmore Minerals Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of mineral properties in the United States. Headquartered in Vancouver, British Columbia with a branch administrative office in Kelowna, the company also has U.S. based Development Offices in Riverton, Wyoming and Santa Fe, New Mexico.