NexGen Announces Upsized AUD $600 Million Equity Offering in Australia
NexGen Announces Upsized AUD $600 Million Equity Offering in Australia
Vancouver, BC, October 2, 2025 – NexGen Energy Ltd. (TSX: NXE) (NYSE: NXE) (ASX: NXG)
(“NexGen” or the “Company”) announced today that it is has entered into an amended and restated
underwriting agreement with Aitken Mount Capital Partners Pty Ltd (the “Australian Underwriter”)
to upsize its previously announced offering and pursuant to which the Australian Underwriter has
agreed to fully underwrite an offering of 45,801,527 common shares in the capital of the Company
(the “Australian Common Shares”), to be settled in the form of Australian CHESS Depositary
Interests, at a price of A$13.10 per share (the “ Offering Price ”), for gross proceeds of
approximately AUD $ 600 million (the “ Australian Offering”). In accordance with a separate
amended and restated appointment letter, Canaccord Genuity (Australia) Limited (the “Australian
JLM”) acted as joint lead manager and bookrunner to the upsized Australian Offering.
The Company confirms that the bookbuild for the upsized Australian Offering has successfully
closed.
As previously announced, concurrent with the Australian Offering, the Company also launched a
bought deal equity offering with a syndicate of underwriters (the “North American Underwriters”)
led by Merrill Lynch Canada Inc. under which the North American Underwriters have agreed to buy
on a bought deal basis 33,112,583 common shares in the capital of the Company (the “ North
American Common Shares”) at a price of C$12.08 per North American Common Share , the
Canadian dollar equivalent to the Offering Price1, for gross proceeds of approximately C$400
million (the “North American Offering”, and together with the Australian Offering, the “Offering”).
The Company intends to use the net proceeds from the Offering to advance engineering of the Rook
I Project, for Rook I Pre-Production Capital Costs and for general corporate purposes.
The North American Common Shares will be offered by way of a short form prospectus (the
“Prospectus”) in all provinces and territories of Canada, other than Quebec, and will be offered in
the United States pursuant to a prospectus filed as part of a registration statement under the
Canada/U.S. multi-jurisdictional disclosure system. A registration statement on Form F-10, including
the U.S. preliminary prospectus (together with any amendments thereto, the “ Registration
Statement”), registering the North Amer ican Common Shares under the U.S. Securities Act of
1933, as amended (the “U.S. Securities Act”) has been filed with the United States Securities and
Exchange Commission (the “SEC”) but has not yet become effective. The preliminary Prospectus
and Registration Statement are subject to completion and amendment. Such documents contain
important information about the North American Offering.
The Australian Common Shares will be issued without disclosure under the Australian Corporations
Act 2001 (Cth) (the “Australian Corporations Act”) to “sophisticated investors” and “professional
investors” (within the meaning of sub -sections 708(8) and 708(11) of the Australian Corporations
Act) and investors in other jurisdictions that may lawfully participate.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the North American Common Shares or the Australian Common Shares
(collectively, the "Offered Common Shares") in any jurisdiction in which such offer, solicitation or
1 Based on the Bloomberg exchange rate as quoted on October 1, 2025 (C$1.00 = A$1.0850).
sale would be unlawful prior to registration or qualification under the securities laws of that
jurisdiction.
The Offering is expected to close on or about October 15, 2025 (EST) and is subject to the Company
receiving all necessary regulatory approvals, including conditional acceptance of the Toronto Stock
Exchange and approval by the New York Stock Exchange (the “NYSE”). The preliminary Prospectus
is available on SEDAR+ at www.sedarplus.ca. The Registration Statement is available on the SEC’s
website at www.sec.gov. The Offered Common Shares to be sold in the Offering described in this
document may not be sold nor may offers to buy be accepted prior to the time the Registration
Statement becomes effective. Before readers invest, they should read the prospectus in th e
Registration Statement and other documents the Company has filed with Canadian regulatory
authorities and the SEC for more complete information about the Company and the Offering.
Potential investors may get any of these documents for free by visiting EDGAR on the SEC website
at www.sec.gov or, when such documents become available, via SEDAR+ at www.sedarplus.ca, or
the Australian Securities Exchange (“ASX”) at www.asx.com.au. Copies of the Prospectus relating
to the North American Offering may be obtained for free upon request in Canada by contacting
Merrill Lynch Canada Inc. , Attention: Doug Butters, 181 Bay Street, Suite 400, Toronto ON M5J
2V8, by telephone at 416-369-3953, and in the United States by contacting BofA Securities,
Attention: Prospectus Department, 201 North Tryon Street, Charlotte, NC 28255-0001, or by email
The completion of the North American Offering is not conditional upon the completion of the
Australian Offering and the completion of the Australian Offering is not conditional upon the
completion of the North American Offering, and the North American Unde rwriters have no
obligations or liability with respect to the Australian Offering and the Australian Underwriter and the
Australian JLM have no obligations or liability with respect to the North American Offering.
About NexGen
NexGen Energy is a Canadian company focused 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 environmental and social governance standards.
The Rook I Project is supported by an 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 prospect ive 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 Stock Exchange, the NYSE under the ticker symbol "NXE," and on
the ASX under the ticker symbol "NXG," providing access to global investors to participate in
NexGen's mission of solving three major global challenges in decarbonization, energy security and
access to power. The Company is headquartered in Vancouver, British Columbia, with its primary
operations office in Saskatoon, Saskatchewan.
This news release has been approved by the Board.
For additional information and media inquiries:
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
Monica Kras
Vice President, Corporate Development
NexGen Energy Ltd.
+44 (0) 7307 191933
Neither the Toronto Stock Exchange nor the NYSE has reviewed or accepted responsibility for the
accuracy or adequacy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements
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 anticipate sale and distribution of North American
Common Shares under the North American Offering and Australian Common Shares under the
Australian Offering, the expected use of the net proceeds from any sales of Offered Common
Shares, the filing of the Prospectus, the prospectus relating to the Australian Offering, and the
Registration Statement, the closing of the Offering, and the receipt of all necessary securities
exchange and other regulatory approvals. Generally, but not always, forward -looking information
and statements can be identified by the use of words 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. Statements relating to "mineral resources" are deemed to be forward -looking
information, as they involve the implied assessment that, based on certai n estimates and
assumptions, the mineral resources described can be profitably produced in the future.
Forward-looking information and statements are based on the then current expectations, beliefs,
assumptions, estimates and forecasts about NexGen's business and the industry and markets in
which it operates. Forward -looking information and statements are m ade based upon numerous
assumptions, including among others, that the mineral reserve and resources estimates and the
key assumptions and parameters on which such estimates are based are as set out in this news
release and the technical report for the property, the results of planned exploration activities are as
anticipated, the price and market supply of uranium, the cost of planned exploration activities, 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 activities will be available on reasonable terms and in a timely manner and that general
business and economic conditions will not change in a material adverse manner. Although the
assumptions made by the Company in providing forward -looking information or making forwar d-
looking statements are considered reasonable by management at the time, there can be no
assurance that such assumptions will prove to be accurate in the future.
Forward-looking information and statements also involve known and unknown risks and
uncertainties and other factors, which may cause actual results, performances and achievements
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, the existence of negative operating cash flow and depen dence on third party financing,
uncertainty of the availability of additional financing, the risk that pending assay results will not
confirm previously announced preliminary results, conclusions of economic valuations, the risk that
actual results of exploration activities will be different than anticipated, the cost of labour, equipment
or materials will increase more than expected, that the future price of uranium will decline or
otherwise not rise to an economic level, the appeal of alternate sources of energy to uranium -
produced energy, that the Canadian dollar will strengthen against the U.S. dollar, that mineral
resources and reserves are not as estimated, that actual costs or actual results of reclamation
activities are greater than expected, that ch anges in project parameters and plans continue to be
refined and may result in increased costs, of unexpected variations in mineral resources and
reserves, grade or recovery rates or other risks generally associated with mining, unanticipated
delays in obtaining governmental, regulatory or First Nations approvals, risks related to First Nations
title and consultation, reliance upon key management and other personnel, deficiencies in the
Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to
obtain or maintain required permits and licences, risks related to changes in laws, regulations, policy
and public perception, as well as those factors or other risks as more fully described in NexGen's
Annual Information Form dated March 3, 2025 filed with the securities commissions of all of the
provinces of Canada except Quebec and in NexGen's 40-F filed with the SEC, which are available
on SEDAR+ at www.sedarplus.ca and 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 reli ance 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.