93% of GUE Shareholders Approve Snow Lake Acquisition Schemes

Shareholder Endorsement Signals Major Transition

Global Uranium and Enrichment Limited (ASX, GUE) has secured overwhelming support from its shareholders and optionholders for the proposed acquisition by Snow Lake Resources Ltd (NASDAQ, LITM). At meetings held on 27 January 2026, 93.02% of shareholders present voted in favour of the share scheme, while optionholders gave unanimous approval to the option scheme. These results clear a critical hurdle for the transaction, which aims to consolidate Snow Lake’s ownership of GUE.

Next Steps, Federal Court Approval and Implementation

Following the strong endorsement, GUE will seek Federal Court approval of the schemes on 3 February 2026. Subject to the Court’s consent, the schemes are expected to become effective on 4 February, triggering the suspension of GUE shares from trading on the ASX. The formal implementation date is set for 13 February, when Snow Lake will issue new shares and warrants to GUE securityholders as consideration for the acquisition.

Market Implications and Delisting

With the schemes effective, GUE will be delisted from the ASX on 16 February 2026, marking the end of its independent listing. Concurrently, the new Snow Lake shares are scheduled to commence trading on Nasdaq, reflecting the transition of GUE’s assets and shareholder base into Snow Lake’s corporate structure. This move aligns with Snow Lake’s strategic growth ambitions in the uranium mining sector and offers GUE investors exposure to a broader international market.

Investor Considerations and Timetable

Shareholders who prefer not to receive Snow Lake shares may opt into a sale facility by submitting an Opt-in Notice by 5, 00pm AWST on 6 February 2026. The precise timing of these events remains subject to regulatory approvals and conditions precedent, but the indicative timetable provides a clear roadmap for investors to follow. GUE has committed to keeping securityholders informed of any material developments as the process unfolds.

Broader Context

This acquisition represents a significant consolidation within the uranium mining sector, with Snow Lake Resources expanding its footprint through the integration of GUE’s assets. The near-unanimous support from optionholders and strong shareholder backing underscore confidence in the strategic rationale behind the deal. Market participants will be watching closely as the Federal Court hearing approaches and the transaction moves toward completion.