IsoEnergy, a Canadian uranium company, has announced a definitive agreement to acquire all outstanding shares of Toro Energy in a deal valued at $75 million. Toro Energy shareholders will receive 0.036 of an IsoEnergy common share for each Toro share held. The transaction is structured as a scheme implementation agreement. IsoEnergy focuses on the exploration and development of uranium projects.
The offer represents a substantial premium for Toro Energy shareholders. Based on the agreed exchange ratio, the deal values Toro shares at 58.4 Australian cents per share. This represents an 80 per cent premium to Toro’s closing price of 32.5 cents on the Australian Securities Exchange (ASX) last Friday. The acquisition will be implemented through a scheme of arrangement, subject to customary conditions including shareholder and regulatory approvals.
Toro Energy is an Australian uranium exploration company that fully owns the Wiluna uranium project in Western Australia. This acquisition strengthens IsoEnergy’s portfolio of uranium assets, particularly within the Australian market. The combination of IsoEnergy’s resources and Toro’s Wiluna project is expected to create a stronger entity with enhanced growth potential in the uranium sector.
