On June 13, 2022, Uranium Energy Corp. (UEC) entered a definitive arrangement to acquire all issued and outstanding common shares of UEX Corporation. UEX shareholders were to receive 0.0831 of a UEC share for each UEX share, valuing UEX shares at approximately C$0.43, marking a 50% premium based on UEX's closing price on the TSX as of June 10, 2022. Following the transaction, UEC and UEX shareholders would own about 86.3% and 13.7% of UEC, respectively. Amir Adnani, UEC's CEO, highlighted the acquisition's alignment with UEC's growth strategy and its expected doubling of UEC’s attributable measured and indicated uranium resources. Roger Lemaitre, UEX's CEO, emphasized the value creation for shareholders, with UEX gaining access to production-ready U.S. assets and strong capital support from UEC. UEX's portfolio included significant interests in several uranium projects in Saskatchewan and Nunavut, while UEC's portfolio comprised assets in the United States, a physical uranium portfolio, and an equity stake in Uranium Royalty Corp. The transaction required 66 2/3% approval from UEX shareholders, with an anticipated closing in the third quarter of 2022. A termination fee of US$8.25 million was set if UEX terminated the agreement under certain conditions. BMO Capital Markets and Rothschild & Co served as UEC's financial advisors, with McMillan LLP as legal advisors. TD Securities and Sprott Capital Partners were UEX's financial advisors, and Koffman Kalef LLP provided legal advice.