NexGen Energy Ltd. (” NexGen ” or the ” Company “) (TSX: NXE) (NYSE: NXE) is pleased to announce that it has filed a prospectus with the Australian Securities and Investments Commission (“ASIC”) in connection with NexGen’s application for admission to the Australian Securities Exchange (“ASX”) as a Foreign Exempt Listing and quotation of its shares as Chess Depositary Instruments (“CDIs”) on July 2, 2021 under the code ” NXG “.
Leigh Curyer, Chief Executive Officer, commented: “NexGen has grown a substantial investor following in Australia and the Asia Pacific region since its founding in 2011. At present, approximately 30% of the NexGen’s outstanding share capital is held by investors in the region. Given the stage of the Company’s development, the exceptional economic strength of the Rook I Project, and the accelerating demand for the responsible production of clean energy worldwide, it is time to broaden the exposure of NexGen through a dual listing onto the ASX. The ASX is a significant resource bourse and has substantial capital pools which are limited or restricted to only ASX-listed issuers. The ASX dual listing is complimentary to NexGen’s current TSX and NYSE listings and the Company’s highly strategic positioning within the resource space will translate well onto the ASX providing additional investor interest and liquidity. NexGen is well financed with over $200 million in cash in the treasury enabling the Company to fund its planned activities through this exciting stage of final permitting and towards construction.
Further, NexGen is in the final stages of preparing for a 2021 exploration program at Rook I. This program will focus on known highly prospective targets incorporating extensive geological data sets and surveys accumulated over the last 10 years. The Patterson Corridor alone on the Rook I Property that hosts the Arrow Deposit, has over 90% yet to be explored. In addition, the Rook I property hosts an additional 8 known corridors running parallel to the east of the Patterson which are all yet to be drilled. The proposed exploration program is scheduled to commence in the coming months incorporating and subject to the exploration, health and safety protocols administered by the Provincial Government and Health Authority.”
Max Cunningham – Executive General Manager, Listings, Issuer Services & Investment Products, Australian Securities Exchange commented: “We look forward to welcoming NexGen to ASX, where it will join some of the world’s largest resource companies and benefit from direct access to Australia’s deep capital pool. The listing comes at a time of heightened interest and activity in the sector and will be our largest listing (by market capitalisation) in the resources space since 2018.”
NexGen is issuing 400,000 shares to be broadly distributed to Australian investors as part of the ASX listing in order to provide for orderly trading.
ASX uses an uncertificated electronic system called CHESS for the clearance and settlement of trades on ASX. NexGen is incorporated in British Columbia and the requirements of British Columbian laws that registered shareholders have the right to receive a stock certificate do not permit the CHESS system of holding uncertificated securities. Accordingly, to enable NexGen to have its securities cleared and settled electronically through CHESS, depositary instruments called CDIs are issued. CDIs represent the beneficial interest in the underlying common share in NexGen and are traded in a manner similar to shares in an Australian company listed on ASX. Each CDI will be equivalent to one Share.
The ASX Listing remains subject to ASX approval and NexGen satisfying ASX’s admission requirements.
A copy of the prospectus in respect of the Listing is available on NexGen’s website at http://www.nexgenenergy.ca .
About NexGen
NexGen is a British Columbia corporation with a focus on developing the Rook I Project located in the southwestern Athabasca Basin, Saskatchewan, Canada into production. Rook I hosts the Arrow Deposit that hosts Measured Mineral Resources of 209.6 M lbs of U3O8 contained in 2.18 M tonnes grading 4.35% U3O8, Indicated Mineral Resources of 47.1 M lbs of U3O8 contained in 1.57 M tonnes grading 1.36% U3O8, and Inferred Mineral Resources of 80.7 M lbs of U3O8 contained in 4.40 M tonnes grading 0.83% U3O8. Arrow’s development is supported by a NI 43-101 compliant Feasibility Study which outlines industry leading ‘next generation’ designs implementing elite environmental performance as well as industry leading strong economics.
NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production. The Company is the recipient of the 2018 PDAC Bill Dennis Award for Canadian mineral discovery and the 2019 PDAC Enviornmental and Social Responsibility Award.
Source: NexGen