Further to the TSX Venture Exchange bulletin dated Nov. 22, 2023, and Nov. 23, 2023, the exchange has accepted for filing documentation in connection with an arrangement agreement between Consolidated Uranium Inc. and Premier American Uranium Inc. (Spinco). Pursuant to the agreement, the company transferred certain indirect wholly owned subsidiaries which hold eight United States Department of Energy leases and certain patented claims located in Colorado to the Spinco (the disposition), by way of a plan of arrangement under the provisions of the Business Corporations Act (Ontario), in exchange for 7,753,752 common shares of the Spinco. Pursuant to the arrangement, the company's shareholders were distributed 3,876,786 of the Spinco shares on a pro rata basis, whereby the company shareholders will receive approximately 0.0373761 Spinco share for every one company share held as of the record date (Nov. 24, 2023).

The exchange has been advised that approval of the arrangement by the company shareholders was received at the special meeting of shareholders held on Aug. 3, 2023, and that approval of the arrangement was received from the Ontario Superior Court of Justice (Commercial List) on Aug. 9, 2023. The arrangement was completed on Nov. 27, 2023.

It is expected that the Spinco shares will be listed for trading on the exchange on or about Dec. 1, 2023. Further, the exchange will issue a subsequent bulletin in the coming days confirming the listing of the Spinco shares.

For further information, refer to the company's management information circular dated July 4, 2023, and news releases dated May 24, 2023, July 5, 2023, Aug. 16, 2023, Nov. 20, 2023, and Nov. 27, 2023, which are available under the company's profile on SEDAR+.