GUE Sets Snow Lake Share Swap Terms Ahead of Crucial Vote
Global Uranium and Enrichment Limited has finalised the share and option scheme considerations for its acquisition by Snow Lake Resources, with directors backing the deal ahead of the upcoming shareholder vote.
- Share Scheme Consideration set at 0.018122 Snow Lake shares per GUE share
- Option Scheme Consideration involves 522,517 Snow Lake warrants at US$5.56 exercise price
- Cancellation of 21.7 million GUE Placement Options in exchange for 393,108 Snow Lake warrants
- Independent directors unanimously recommend voting in favour, pending no superior proposal
- Scheme meetings scheduled for 27 January 2026
Finalising the Deal Terms
Global Uranium and Enrichment Limited (GUE) has announced the final calculations for the consideration offered to its shareholders and optionholders as part of the proposed acquisition by Snow Lake Resources Ltd. This follows earlier announcements and the release of the Scheme Booklet in December 2025, setting the stage for the upcoming shareholder meetings on 27 January 2026.
The Share Scheme Consideration has been determined at approximately 0.018122 new Snow Lake shares for each GUE share held at the record date. This translates to an aggregate issuance of around 6.67 million new Snow Lake shares, assuming no further conversions of convertible securities except for the vesting of 2 million performance rights held by a key executive.
Options and Warrants – The Complex Swap
For holders of GUE options, the Option Scheme Consideration will see them receive Snow Lake Scheme Warrants on a similar ratio of 0.018122 per GUE option. These warrants carry an exercise price of US$5.5598, with a total of approximately 522,517 warrants to be issued if the scheme proceeds as planned. Additionally, the 21.7 million GUE Placement Options will be cancelled in exchange for roughly 393,108 Snow Lake warrants priced at US$4.8185 each.
This intricate swap of shares, options, and warrants reflects the complexity of cross-border acquisitions in the uranium exploration sector, balancing shareholder value with the strategic interests of Snow Lake Resources.
Board Support and Next Steps
The independent directors of GUE have unanimously recommended that shareholders vote in favour of the schemes, provided no superior proposal emerges and the independent expert continues to endorse the transaction as being in shareholders’ best interests. The directors themselves intend to vote their holdings in favour, signalling strong internal confidence in the deal.
Shareholders are urged to review the Scheme Booklet carefully ahead of the vote, which remains subject to customary conditions precedent. The outcome of the 27 January meetings will be pivotal in determining the future ownership and strategic direction of GUE.
Bottom Line?
As the vote looms, all eyes will be on shareholder sentiment and any last-minute competing offers that could reshape the uranium sector’s landscape.
Questions in the middle?
- Will any superior proposal emerge before the shareholder vote?
- How will the conversion of performance rights impact the final share count?
- What are the implications of the warrant exercise prices for Snow Lake’s future capital structure?
