Transaction Increasing Cameco’s Ownership Stake in Cigar Lake Closes
May 19 2022 - 05:01PM
Business Wire
CAMECO (TSX: CCO; NYSE: CCJ) announced that the
acquisition of Idemitsu Canada Resources Ltd.’s (Idemitsu) 7.875%
participating interest in the Cigar Lake Joint Venture by Cameco
and Orano Canada Inc. (Orano) closed today.
Cameco’s ownership stake in the Cigar Lake uranium mine in
northern Saskatchewan now stands at 54.547%, 4.522 percentage
points higher than it was prior to the transaction, while Orano’s
interest is 40.453%, an increase of 3.353 percentage points from
its previous share. TEPCO Resources Inc. retains the remaining 5%
interest in the property.
For more information regarding this transaction, please see
Cameco’s May 10, 2022 news release announcing the acquisition.
Profile
Cameco is one of the largest global providers of the uranium
fuel needed to energize a clean-air world. Our competitive position
is based on our controlling ownership of the world’s largest
high-grade reserves and low-cost operations. Utilities around the
world rely on our nuclear fuel products to generate power in safe,
reliable, carbon-free nuclear reactors. Our shares trade on the
Toronto and New York stock exchanges. Our head office is in
Saskatoon, Saskatchewan.
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version on businesswire.com: https://www.businesswire.com/news/home/20220519005837/en/
Investor inquiries: Leah Hipperson 306-385-5524
leah_hipperson@cameco.com
Media inquiries: Jeff Hryhoriw 306-385-5221
jeff_hryhoriw@cameco.com
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