Australian Strategic Materials (ASM) is pleased to confirm that Energy Fuels Inc. has completed its 100% acquisition of ASM, by way of a members’ scheme of arrangement (Share Scheme).
Implementation of the Share Scheme took place on 28 August 2026, and ASM was removed from the official list of ASX on 31 August 2026.
In accordance with the Share Scheme, Energy Fuels has confirmed that eligible ASM Shareholders have been issued with the Share Scheme Consideration of 0.053 New Energy Fuels CHESS Depositary Interests (CDIs) – or New Energy Fuels Shares, if validly elected – and all ASM Shareholders have been paid the Cash Consideration of A$0.13 for each ASM Share held as at the Share Scheme Record Date.
New Energy Fuels CDIs have been trading on ASX on a deferred settlement basis since Thursday, 20 August 2026 and commenced trading on a normal settlement basis on ASX from Monday, 31 August 2026.
First settlement of New Energy Fuels CDIs traded on ASX will occur on Wednesday, 2 September 2026. New Energy Fuels Shares issued under the Share Scheme will commence trading on the NYSE American and TSX from Friday, 28 August 2026 (Eastern Time).
“We are excited to join Energy Fuels and contribute to a leading Western rare earth supply chain, and I would like to thank ASM employees and shareholders for their support in getting us to this point. The combination of Energy Fuels and ASM represents a major step forward in the development of a secure, diversified rare earth platform that the world increasingly needs, and we look forward to demonstrating the value that the combined company will bring.”
Rowena Smith, Managing Director & CEO