NexGen Announces Closing of Strategic Purchase of 2.7 Million Pounds of Uranium
NexGen Announces Closing of Strategic Purchase of 2.7 Million Pounds of Uranium
VANCOUVER, BC, May 28, 2024 - NexGen Energy Ltd. ( “NexGen” or the “Company”) (TSX: NXE)
(NYSE: NXE) (ASX: NXG) is pleased to announce that it has closed its previously announced purchase (the
“Purchase”) of 2,702,410 pounds natural uranium concentrate (“U3O8”) for an aggregate purchase price of
US$250 million, which was satisfied through the issuance of US$250 million aggregate principal amount of
five year, 9.0% per annum (payable 2/3 cash and 1/3 common shares) unsecured convertible debentures
(the “Debentures”), in accordance with the previously disclosed terms including entering into investor rights
agreements with the holders of Debentures containing voting alignment, standstill, anti-hedging and sale
and transfer restriction covenants.
Leigh Curyer, Chief Executive Officer, commented: “This transaction further optimizes the advancement of
the offtake negotiations which are underway and progressing well. This transaction is designed to ultimately
maximize the value of the significant ura nium inventory that we will have as we look ahead to production
and sales. Further, having access to 2.7 million pounds of uranium at surface in inventory will no doubt
prove to be increasingly strategic given the recent passing of the Prohibiting Russian Uranium Imports Act
into US law. The current offtake discussions tie into the project financing process which is progressing in
anticipation of full project approvals. With the responses to the final 49 aspects of the technical review
process submitted t o the Canadian Nuclear Safety Commission on May 21, 2024, we are advancing the
project through final detailed designs and procurement activities in line with our objectives and schedule.”
The securities referenced herein have not been and will not be registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements thereof.
About NexGen
NexGen Energy is a Canadian company fo cused on delivering clean energy fuel for the future. The
Company’s flagship Rook I Project is being optimally developed into the largest low cost producing uranium
mine globally, incorporating the most elite standards in environmental and social governance. The Rook I
Project is supported by a NI 43 -101 compliant Feasibility Study which outlines the elite environmental
performance and industry leading economics. NexGen is led by a team of experienced uranium and mining
industry professionals with expertise across the entire mining life cycle, including exploration, financing,
project engineering and construction, operations and closure. NexGen is leveraging its proven experience
to deliver a Project that leads the entire mining industry socially, technically and environmentally. The
Project and prospective portfolio in northern Saskatchewan will provide generational long-term economic,
environmental, and social benefits for Saskatchewan, Canada, and the world.
NexGen is listed on the Toronto S tock Exchange, the New York Stock Exchange under the ticker symbol
“NXE” and on the Australian Securities Exchange under the ticker symbol “NXG” providing access to global
investors to participate in NexGen’s mission of solving three major global challenge s in decarbonization,
energy security and access to power. The Company is headquartered in Vancouver, British Columbia, with
its primary operations office in Saskatoon, Saskatchewan.
Contact Information
Leigh Curyer
Chief Executive Officer
NexGen Energy Ltd.
+1 604 428 4112
www.nexgenenergy.ca
Travis McPherson
Chief Commercial Officer
NexGen Energy Ltd.
+1 604 428 4112
http://www.nexgenenergy.ca
Monica Kras
Vice President, Corporate Development
+44 7307 191933
http://www.nexgenenergy.ca
Forward-Looking Information
The information contained herein contains “forward-looking statements” within the meaning of applicable
United States securities laws and regulations and “forward-looking information ” within the meaning of
applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to,
statements with respect to maximizing the value of the Company’s uranium endowment, expected project
financing discussions progressing in anticipation of full approvals, delivery of clean energy fuel for the future,
the development of the largest low cost producing uranium mine globally and incorporating elite standards
in environmental and social governance, and delivering a project that leads the entire mining industry
socially, technically and envi ronmentally, providing generational long -term economic, environmental and
social benefits for Saskatchewan, Canada and the world . Generally, forward -looking information and
statements can be identified by the use of forward -looking terminology such as “plans”, “expects”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the
negative connotation thereof or variations of such words and phrases or state that certain actions, events
or results “may”, “could”, “would”, “might” or “will be taken ”, “occur” or “be achieved” or the negative
connotation thereof.
Forward-looking information and statements are based on NexGen’s current expectations, beliefs,
assumptions, estimates and forecasts about its business and the industry and markets in which it operates.
Forward-looking information and statements are made based upon numerous assumptions, including,
among others; the supply, demand and price of uranium; the cost of planned exploration and development
activities; that, as plans continue to be refined for the development of the Rook I Project, there will be no
changes in costs, engineering details or specifications that would materially adversely affect its viability; that
financing will be available if and when needed and on reasonable terms; that third -party contractors,
equipment, supplies and governmental and other approvals required to conduct NexGen’s planned
exploration and development activities will be available on reasonable terms and in a ti mely manner; that
there will be no revocation of government approvals; that general business, economic, competitive, social
and political conditions will not change in a material adverse manner; the assumptions underlying the
Company’s mineral reserve and resource estimates; assumptions made in the interpretation of drill results
and other geological information; the ability to achieve production on the Rook I Project; other estimates,
assumptions and forecasts disclosed in the Feasibility Study for the Rook I Project; and supply and demand
conditions will lead to a pricing surge . Although the assumptions made by the Company in providing
forward-looking information or making forward -looking statements were considered reasonable by
management at the time they were made, there can be no assurance that such assumptions will prove to
be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and
other factors, which may cause actual results, performances and a chievements of NexGen to differ
materially from any projections of results, performances and achievements of NexGen expressed or implied
by such forward-looking information or statements, including, among others, negative operating cash flow
and dependence on third-party financing, uncertainty of additional financing, the risk that pending assay
results will not confirm previously announced preliminary results, the imprecision of mineral reserve and
resource estimates, the price and appeal of alternate sour ces of energy, sustained low uranium prices,
aboriginal title and consultation issues, exploration and development risks, climate change, uninsurable
risks, reliance upon key management and other personnel, risks related to title to its properties, information
security and cyber threats, failure to manage conflicts of interest, failure to obtain or maintain required
permits and licenses, changes in laws, regulations and policy, competition for resources, political and
regulatory risks, general inflationary pressures, industry and economic factors that may affect the business,
and other factors discussed or referred to in the Company’s most recent Annual Information Form under
“Risk Factors” and management’s discussion and analysis under “Other Risks Factors” filed on SEDAR+
at www.sedarplus.ca and 40-F filed on Edgar at www.sec.gov
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in the forward -looking information or statements or implied by forward -
looking information or statements, there may be other factors that cause results not to be as anticipated,
estimated or intended. Readers are cautioned not to place undue reliance on forward-looking information
or statements due to the inherent uncertainty thereof.
There can be no assurance that forward -looking information and statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated, estimated or intended.
Accordingly, readers should not place undue reliance on forward -looking statements or information. The
Company undertakes no obligation to update or reissue forward -looking information as a result of new
information or events except as required by applicable securities laws.