Announcement • Feb 13
Snow Lake Resources Ltd. (NasdaqCM:LITM) completed the acquisition of remaining 80.30% stake in Global Uranium and Enrichment Limited (ASX:GUE). Snow Lake Resources Ltd. (NasdaqCM:LITM) entered into a binding Scheme Implementation Deed to acquire remaining 80.30% stake in Global Uranium and Enrichment Limited (ASX:GUE) for approximately AUD 35.5 million on October 6, 2025. Global Uranium shareholders will receive AUD 0.0968 in Snow Lake shares for each GUE Share held. The number of new Snow Lake shares will be based on a formula and adjusted for the USD/AUD exchange rate, subject to a maximum of 0.083878 new Snow Lake shares for each GUE Share held. Upon completion, Snow Lake Resources Ltd. will own 100% stake in Global Uranium and Enrichment Limited. GUE shareholders (excluding Snow Lake, which has an existing 19.7% shareholding in Global Uranium) to own ~33% of pro-forma shares outstanding of the enlarged Snow Lake (Combined Group) if the Scheme is implemented. Upon implementation of the Schemes, the Snow Lake Board remains unchanged, while Tim Brown and Jim Viellenave from Global Uranium's executive team join as U.S. Country Manager and Technical Adviser, respectively. In case of termination of transaction, Snow Lake Resources Ltd. and Global Uranium and Enrichment Limited will pay a termination fee of AUD 0.68 million.
The transaction is contingent upon several conditions: (a) FIRB approval must be obtained on the Business Day immediately prior to the Second Court Date, with the Treasurer of the Commonwealth of Australia providing a written notice of no objection, which must be unconditional or reasonably acceptable to Snow Lake. (b) The Court must approve the Scheme in accordance with section 411(4)(b) of the Corporations Act, satisfying Section 3(a)(10) of the U.S. Securities Act for all New Snow Lake Shares. (c) GUE Shareholders, excluding Excluded Shareholders, must approve the Scheme at the Scheme Meeting by the requisite majorities under section 411(4)(a)(ii) of the Corporations Act. (d) An Independent Expert must issue a report concluding that the Scheme is in the best interests of GUE Shareholders, and this conclusion must remain unchanged before the Scheme Booklet is registered by ASIC. (e) All necessary regulatory conditions, including those from ASIC, ASX, and Canadian securities laws, must be fulfilled on the Second Court Date. (f) The New Snow Lake Shares must be approved for listing on Nasdaq. (g) The Convertible Notes Completion must occur by the tenth Business Day after the date of this deed. (h) No Government Agency should take action to prevent or prohibit the Scheme, and no material adverse changes or prescribed events should occur for either GUE or Snow Lake. (i) All warranties and undertakings must remain unbreached, and (j) GUE must ensure all performance rights are addressed as per the Scheme Implementation Deed. The transaction is also subject to the cancellation of Private Treaty Options as outlined in the deed. The Independent GUE Board has unanimously recommended that GUE securityholders vote in favour of the Schemes. The expected completion of the transaction is in the first quarter of 2026. As of December 8, 2025 Snow Lake Resources Ltd has received its Australian Foreign Investment Review Board ("FIRB") approval for the acquisition. As of 19 December 2025, the Scheme Meetings will take place 27 January 2026. The transaction is expected to be effective on 4 February 2026. As per the announcement dated January 27, 2026 the transaction has been approved by the shareholders of Global Uranium and Enrichment Limited. As of February 3, 2026 the deal has been approved by the Federal Court of Australia.
Canaccord Genuity Group Inc. acted as financial advisor for Global Uranium and Enrichment Limited. Sternship Advisers Pty Ltd. acted as financial advisor for Snow Lake Resources Ltd. Scott Gibson and Michael Ng, Cameron Bill of Thomson Geer acted as legal advisor for Global Uranium and Enrichment Limited. James Nicholls, Emily Eardley, Alexis Brensell and Emily Wang of Hamilton Locke Pty Ltd acted as legal advisor for Snow Lake Resources Ltd. Garfinkle, Biderman LLP acted as legal advisor for Snow Lake Resources Ltd. Nauth LPC acted as legal advisor for Snow Lake Resources Ltd. Automic Pty Ltd. acted as registrar for Global Uranium and Enrichment Limited.
Snow Lake Resources Ltd. (NasdaqCM:LITM) completed the acquisition of remaining 80.30% stake in Global Uranium and Enrichment Limited (ASX:GUE) on February 13, 2026.. Announcement • Nov 11
Global Uranium and Enrichment Limited announced that it expects to receive AUD 2.666 million in funding Global Uranium and Enrichment Limited announces convertible note subscription agreement with Summit Strategies LLC to issue Unsecured Convertible Notes for gross proceeds of AUD 2,666,000 on November 10, 2025. Announcement • Oct 06
Snow Lake Resources Ltd. (NasdaqCM:LITM) entered into a binding Scheme Implementation Deed to acquire remaining 80.30% stake in Global Uranium and Enrichment Limited (ASX:GUE) for approximately AUD 35.5 million. Snow Lake Resources Ltd. (NasdaqCM:LITM) entered into a binding Scheme Implementation Deed to acquire remaining 80.30% stake in Global Uranium and Enrichment Limited (ASX:GUE) for approximately AUD 35.5 million on October 6, 2025. Global Uranium shareholders will receive AUD 0.0968 in Snow Lake shares for each GUE Share held. The number of new Snow Lake shares will be based on a formula and adjusted for the USD/AUD exchange rate, subject to a maximum of 0.083878 new Snow Lake shares for each GUE Share held. Upon completion, Snow Lake Resources Ltd. will own 100% stake in Global Uranium and Enrichment Limited. GUE shareholders (excluding Snow Lake, which has an existing 19.7% shareholding in Global Uranium) to own ~33% of pro-forma shares outstanding of the enlarged Snow Lake (Combined Group) if the Scheme is implemented. Upon implementation of the Schemes, the Snow Lake Board remains unchanged, while Tim Brown and Jim Viellenave from Global Uranium's executive team join as U.S. Country Manager and Technical Adviser, respectively. In case of termination of transaction, Snow Lake Resources Ltd. and Global Uranium and Enrichment Limited will pay a termination fee of AUD 0.68 million.
The transaction is contingent upon several conditions: (a) FIRB approval must be obtained on the Business Day immediately prior to the Second Court Date, with the Treasurer of the Commonwealth of Australia providing a written notice of no objection, which must be unconditional or reasonably acceptable to Snow Lake. (b) The Court must approve the Scheme in accordance with section 411(4)(b) of the Corporations Act, satisfying Section 3(a)(10) of the U.S. Securities Act for all New Snow Lake Shares. (c) GUE Shareholders, excluding Excluded Shareholders, must approve the Scheme at the Scheme Meeting by the requisite majorities under section 411(4)(a)(ii) of the Corporations Act. (d) An Independent Expert must issue a report concluding that the Scheme is in the best interests of GUE Shareholders, and this conclusion must remain unchanged before the Scheme Booklet is registered by ASIC. (e) All necessary regulatory conditions, including those from ASIC, ASX, and Canadian securities laws, must be fulfilled on the Second Court Date. (f) The New Snow Lake Shares must be approved for listing on Nasdaq. (g) The Convertible Notes Completion must occur by the tenth Business Day after the date of this deed. (h) No Government Agency should take action to prevent or prohibit the Scheme, and no material adverse changes or prescribed events should occur for either GUE or Snow Lake. (i) All warranties and undertakings must remain unbreached, and (j) GUE must ensure all performance rights are addressed as per the Scheme Implementation Deed. The transaction is also subject to the cancellation of Private Treaty Options as outlined in the deed. The Independent GUE Board has unanimously recommended that GUE securityholders vote in favour of the Schemes. The expected completion of the transaction is in the first quarter of 2026.
Canaccord Genuity Group Inc. acted as financial advisor for Global Uranium and Enrichment Limited. Sternship Advisers Pty Ltd. acted as financial advisor for Snow Lake Resources Ltd. Thomson Geer acted as legal advisor for Global Uranium and Enrichment Limited. Hamilton Locke Pty Ltd acted as legal advisor for Snow Lake Resources Ltd. Garfinkle, Biderman LLP acted as legal advisor for Snow Lake Resources Ltd. Nauth LPC acted as legal advisor for Snow Lake Resources Ltd. Automic Pty Ltd. acted as registrar for Global Uranium and Enrichment Limited. 
