UraniumSA Limited (ACN 119 978 013) (UraniumSA or Company) is an Adelaide based explorer with a portfolio of properties in South Australia’s Gawler Craton and Eyre Peninsula.
On 6 April 2016 the Company announced a proposal that involved the demerger of Samphire Uranium Limited (‘SUL’) as a separate standalone unlisted public company. SUL is now the owner of the Samphire Project Uranium Assets.
Approval of the demerger now sees UraniumSA shareholders owning shares in both it and SUL pro-rata to their holding in UraniumSA as at 27 June 2016.
UraniumSA has for many quarters indicated that it was seeking and evaluating other opportunities in the energy and wider resources sector. This process continues and has been extended to businesses outside the resources sector.
In early April 2016 the Company mandated Taylor Collison to assist with identifying opportunities referred to above. In addition to the funds raised from the Share Purchase Plan, the mandate with Taylor Collison is anticipated to bring up to $1.0 million in new UraniumSA equity – post the Demerger.