Uranium Royalty Corp. Announces Filing and Mailing of the Management Information Circular in Connection with the Special Meeting of Shareholders to Approve Proposed Plan of Arrangement with Sweetwater Investors and Announces Exchangeable Share Election De

Uranium Royalty Corp. (URC) has filed and mailed its Management Information Circular (MIC) for a special shareholder meeting scheduled for July 20, 2026. The meeting will vote on a statutory plan of arrangement to combine URC with Sweetwater Investors, affiliates of Orion Resource Partners and Ontario Teachers' Pension Plan. Under the proposed terms, URC will acquire approximately 92% of the Sweetwater Entities for aggregate consideration of ~US$1.14 billion, payable in cash and New URC shares.

Existing URC shareholders will receive one common share of New URC for each URC share held, while Canadian shareholders may elect exchangeable shares on a 1-for-1 basis. Sweetwater Investors will receive ~US$330 million in cash and 223,252,749 New URC shares at a deemed value of US$3.64 per share. Post-transaction ownership, prior to financing, is projected to consist of ~43% for Orion, ~16% for Ontario Teachers', and ~41% for existing URC shareholders. Voting support includes insiders, directors, and Uranium Energy Corp. (UEC), who hold ~14.37% and have signed voting agreements.

The transaction adds ~850,000 acres of fee surface rights and ~4.5 million acres of mineral rights in Wyoming, Utah, and Colorado. It is expected to increase attributable soda ash production capacity by >60% and provides uranium exploration optionality. The deal is expected to be accretive to NAV, cash flow, and EPS.

Uranium Royalty Corp. filed a procedural document regarding a transaction originally announced on April 16, 2026. The terms, consideration, and strategic rationale for the deal were already priced into the market.

Following the initial announcement, the stock rallied to approximately $5.40 in April before drifting down to around $3.86 by late June. This decline reflects investor skepticism regarding the dilution, with shares increasing from approximately 146 million to 382 million, and the addition of approximately US$625 million in non-recourse debt.

The filing discloses no new operational, financial, or strategic data and serves to set the stage for the July 20 vote.

Uranium Royalty Corp. (URC), a Vancouver-based royalty and streaming company focused on uranium, is expanding its operations with a growing physical uranium inventory and trading operation. The company holds approximately 92% interest in trona and soda ash royalties, along with extensive landholdings in Wyoming, Utah, and Colorado.

The combined entity, referred to as "New URC," will be U.S.-domiciled and listed on Nasdaq. It will be structured as a diversified royalty platform, combining uranium exposure with immediate soda ash cash flows and renewable energy optionality.