Uranium Royalty Completes Landmark Sweetwater Transaction Creating Leading Uranium and Land Royalty Company

Uranium Royalty Corp. confirmed on July 27, 2026, the closing of its previously announced plan of arrangement, combining with the Sweetwater Entities to create a new U.S.-domiciled parent company, New URC. The transaction brings approximately 92% of trona royalty assets and landholdings into the group, including roughly 850,000 acres of fee surface rights and 4.5 million acres of mineral rights.

The consideration was funded in part by a US$50 million senior secured revolving credit facility from Bank of Montreal, with US$40 million drawn as bridge financing. Existing URC shareholders received one New URC share for each URC share held. New URC shares began trading on NASDAQ on July 28, while URC shares were delisted from the TSX. Orion Resource Partners and Ontario Teachers’ Pension Plan are now the largest shareholders alongside Uranium Energy Corp. (18.4%). The new entity expects the combination to be accretive to net asset value, cash flow, and earnings per share.

Uranium Royalty Corp. (URC) has closed a long-telegraphed, highly-voted transaction, marking a routine procedural milestone rather than introducing new market-moving information. All key parameters, including consideration, ownership splits, asset profile, and financing structure, were previously disclosed and approved.

The credit facility’s size of US$50 million and draw of US$40 million are modest relative to the transaction’s US$1.1 billion attributable equity value and do not materially alter the capital structure beyond what was previously outlined. The July 23 close of $4.36 remains well within the post-deal trading range, indicating the release adds no genuinely new, price-sensitive information.

Uranium Royalty Corp. (URC) is a royalty company focused on uranium and soda-ash (trona). Its asset base includes producing royalties on Cigar Lake (10-20% NPI), McArthur River (1% GORR), Langer Heinrich, and Lance (1% NSR, 4% GRR), along with additional over 15 development-stage royalties in North America. The company also engages in physical uranium trading, actively buying and selling U3O8 to take advantage of spot price volatility.

In the soda-ash sector, URC earns an 8% revenue royalty (effectively on ~50% of production) from five operating mines in Wyoming’s Green River Basin. Current attributable capacity is approximately 2.5 Mt, with more than 60% growth expected from brownfield expansions currently under way. Additionally, the company holds approximately 850,000 acres of fee surface and approximately 4.5 million acres of mineral rights, making it the second-largest public company landowner in the U.S. and the largest in Wyoming. Approximately 300,000 acres are leased for wind and solar development.