GoviEx Uranium Receives Final Order Approving Arrangement with Tombador Iron

On November 6, 2025, GoviEx Uranium announced it has received the final order from the Supreme Court of British Columbia approving the previously announced Plan of Arrangement with Tombador Iron Limited. This is the final approval required for the transaction to proceed. The arrangement is expected to close on or about November 12, 2025. Trading of GoviEx shares will be halted on the TSX Venture Exchange at the close of trading on November 10, 2025, and on the OTCQB at the close of trading on November 11, 2025. The new combined entity, to be named Atomic Eagle Ltd., is expected to commence trading on the Australian Securities Exchange (ASX) on November 18, 2025.

This news is a material positive catalyst. While the court approval is a procedural step, it is the final significant hurdle for the reverse takeover (RTO) to be completed. Reviewing the historical news, the company has methodically executed this transaction since its announcement on August 18, 2025, securing Tombador shareholder approval (October 8) and its own securityholder approval (October 24). This final court order removes the last element of uncertainty and confirms the transaction will close on schedule.

The RTO itself is a transformational event for GoviEx. The company was in a precarious financial position, with only $450k in cash as of March 31, 2025. While a May 2025 financing of ~$10.5M CAD provided a short-term lifeline, it was insufficient for any meaningful project advancement. The RTO recapitalizes the company, projecting a pro-forma cash balance of A$19.4 million to A$24.4 million for the new entity, Atomic Eagle Ltd.

This transaction achieves several key strategic objectives: - Solves Near-Term Capital Needs: Provides immediate working capital and a stronger balance sheet to advance the Muntanga project. - Access to New Capital Markets: An ASX listing opens the door to a broader pool of investors in Australia and the Asia-Pacific region who are familiar with resource development stories. - Strategic Pivot: Solidifies the company's pivot away from the troubled Madaouela project in Niger (for which a C$65M impairment was taken) to focus exclusively on the mine-permitted Muntanga project in the more stable jurisdiction of Zambia. - Corporate Reset: The rebranding to Atomic Eagle Ltd. allows for a fresh start with a simplified corporate structure and a clear mandate.

This court approval confirms that these benefits are now imminent. It de-risks the company's short-term survival and provides a credible platform to pursue the much larger project financing required for mine construction.

GoviEx Uranium is a mineral resource company focused on the exploration and development of uranium properties. Historically, the company had two main assets: the Madaouela Project in Niger and the Muntanga Project in Zambia. Following the revocation of its Nigerien mining permit in mid-2024 and the initiation of arbitration proceedings, GoviEx has pivoted to focus solely on advancing its flagship asset.

The Muntanga Project in Zambia is a 100%-owned, mine-permitted uranium project. A positive Feasibility Study was announced in January 2025, outlining a shallow open-pit, heap leach operation. Key metrics (at $90/lb U3O8) include a 12-year mine life, average annual production of 2.2 million pounds of U3O8, an after-tax NPV8% of US$243 million, and an IRR of 20.8%. The initial capital expenditure is estimated at US$281.9 million. The project is located in a pro-mining jurisdiction with good infrastructure. All properties related to the Muntanga project appear to be royalty-free, though subject to standard government taxes.