Nano Nuclear Energy to buy US nuclear fuel processing assets from Radnostix; shares rise

By Reuters News

** Shares of nuclear technology company Nano Nuclear Energy NNE.O up 2.5% to $16.14 premarket

** Co and its unit, HALEU Energy Fuel, enter into a definitive asset purchase agreement with Radnostix and its unit International Isotopes Fluorine Products to acquire strategic US nuclear fuel processing assets

** Assets include a US Nuclear Regulatory Commission license and related intellectual property and technical materials associated with a previously planned depleted uranium hexafluoride deconversion and fluorine extraction facility in New Mexico

** Under the asset purchase agreement, the consideration being paid for the assets at closing is $9.5 million in cash and $4.0 million in NANO common stock, payable and issuable at closing in accordance with the agreement

** Upon completion of the transaction and transfer of the NRC license, NANO Nuclear would own one of ten NRC-licensed fuel cycle facilities in the United States

**The parties currently expect closing in approximately 90 to 120 days, depending on those approvals and conditions

** As of last close, NNE down 34% YTD

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