VANCOUVER, BC, June 24, 2021 /PRNewswire/ - NexGen Energy
Ltd. ("NexGen" or the "Company") (TSX: NXE)
(NYSE: NXE) is pleased to announce that it has filed a
prospectus with the Australian Securities and Investments
Commission ("ASIC") in connection with NexGen's application for
admission to the Australian Securities Exchange ("ASX") as a
Foreign Exempt Listing and quotation of its shares as Chess
Depositary Instruments ("CDIs") on July 2,
2021 under the code "NXG".
Leigh Curyer, Chief Executive Officer, commented: "NexGen has
grown a substantial investor following in Australia and the Asia Pacific region since its founding in
2011. At present, approximately 30% of the NexGen's outstanding
share capital is held by investors in the region. Given the stage
of the Company's development, the exceptional economic strength of
the Rook I Project, and the accelerating demand for the responsible
production of clean energy worldwide, it is time to broaden the
exposure of NexGen through a dual listing onto the ASX. The
ASX is a significant resource bourse and has substantial capital
pools which are limited or restricted to only ASX-listed
issuers. The ASX dual listing is complimentary to NexGen's
current TSX and NYSE listings and the Company's highly strategic
positioning within the resource space will translate well onto the
ASX providing additional investor interest and liquidity.
NexGen is well financed with over $200
million in cash in the treasury enabling the Company to fund
its planned activities through this exciting stage of final
permitting and towards construction.
Further, NexGen is in the final stages of preparing for a 2021
exploration program at Rook I. This program will focus on known
highly prospective targets incorporating extensive geological data
sets and surveys accumulated over the last 10 years. The Patterson
Corridor alone on the Rook I Property that hosts the Arrow Deposit,
has over 90% yet to be explored. In addition, the Rook I property
hosts an additional 8 known corridors running parallel to the east
of the Patterson which are all yet to be drilled. The proposed
exploration program is scheduled to commence in the coming months
incorporating and subject to the exploration, health and safety
protocols administered by the Provincial Government and Health
Authority."
Max Cunningham – Executive
General Manager, Listings, Issuer Services & Investment
Products, Australian Securities Exchange commented: "We look
forward to welcoming NexGen to ASX, where it will join some of the
world's largest resource companies and benefit from direct access
to Australia's deep capital pool.
The listing comes at a time of heightened interest and activity in
the sector and will be our largest listing (by market
capitalisation) in the resources space since 2018."
NexGen is issuing 400,000 shares to be broadly distributed to
Australian investors as part of the ASX listing in order to provide
for orderly trading.
ASX uses an uncertificated electronic system called CHESS for
the clearance and settlement of trades on ASX. NexGen is
incorporated in British Columbia
and the requirements of British Columbian laws that registered
shareholders have the right to receive a stock certificate do not
permit the CHESS system of holding uncertificated securities.
Accordingly, to enable NexGen to have its securities cleared and
settled electronically through CHESS, depositary instruments called
CDIs are issued. CDIs represent the beneficial interest in the
underlying common share in NexGen and are traded in a manner
similar to shares in an Australian company listed on ASX. Each CDI
will be equivalent to one Share.
The ASX Listing remains subject to ASX approval and NexGen
satisfying ASX's admission requirements.
A copy of the prospectus in respect of the Listing is available
on NexGen's website at http://www.nexgenenergy.ca.
About NexGen
NexGen is a British Columbia
corporation with a focus on developing the Rook I Project located
in the southwestern Athabasca
Basin, Saskatchewan, Canada into
production. Rook I hosts the Arrow Deposit that hosts Measured
Mineral Resources of 209.6 M lbs of
U3O8 contained in 2.18 M tonnes
grading 4.35% U3O8, Indicated Mineral Resources of 47.1 M lbs of U3O8 contained in 1.57 M tonnes grading 1.36% U3O8, and Inferred
Mineral Resources of 80.7 M lbs of
U3O8 contained in 4.40 M tonnes
grading 0.83% U3O8. Arrow's development is supported by a NI
43-101 compliant Feasibility Study which outlines industry leading
'next generation' designs implementing elite environmental
performance as well as industry leading strong economics.
NexGen has a highly experienced team of uranium industry
professionals with a successful track record in the discovery of
uranium deposits and in developing projects through discovery to
production. The Company is the recipient of the 2018 PDAC
Bill Dennis Award for Canadian mineral discovery and the 2019 PDAC
Enviornmental and Social Responsibility Award.
Technical Disclosure
The technical information in this news release with respect to
the FS has been reviewed and approved by Mark Hatton, P.Eng. of Stantec, Paul O'Hara, P.Eng. of Wood, and Mark B. Mathisen, C.P.G. of RPA, each of whom is
an independent "qualified person" under National Instrument 43-101
– Standards of Disclosure for Mineral Projects
("NI-43-101").
All technical information in this news release has been reviewed
and approved by Anthony (Tony)
George, P.Eng, NexGen's Chief Project Officer, who is a
qualified person under National Instrument 43-101.
A technical report in respect of the FS will be filed on SEDAR
(www.sedar.com) and EDGAR (www.sec.gov/edgar.shtml)
shortly.
Cautionary Note to U.S. Investors
This news release includes Mineral Reserves and Mineral
Resources classification terms that comply with reporting standards
in Canada and the Mineral
Reserves, and the Mineral Resources estimates are made in
accordance with NI 43-101. NI 43-101 is a rule developed by the
Canadian Securities Administrators that establishes standards for
all public disclosure an issuer makes of scientific and technical
information concerning mineral projects. These standards differ
from the requirements of the Securities and Exchange Commission
("SEC") set the SEC's rules that are applicable to domestic
United States reporting
companies. Consequently, Mineral Reserves and Mineral
Resources information included in this news release is not
comparable to similar information that would generally be disclosed
by domestic U.S. reporting companies subject to the reporting and
disclosure requirements of the SEC Accordingly, information
concerning mineral deposits set forth herein may not be comparable
with information made public by companies that report in accordance
with U.S. standards.
Forward-Looking Information
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 mineral
reserve and mineral resource estimates, the 2021 Arrow Deposit,
Rook I Project and estimates of uranium production, grade and
long-term average uranium prices, anticipated effects of completed
drill results on the Rook I Project, planned work programs,
completion of further site investigations and engineering work to
support basic engineering of the project and expected outcomes.
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
certain 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
made 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 forward 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 dependence 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 changes 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 11,
2020 filed with the securities commissions of all of the
provinces of Canada except
Quebec and in NexGen's 40-F filed
with the United States Securities and Exchange Commission, which
are available on SEDAR at www.sedar.com 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
reliance 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.
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SOURCE NexGen Energy Ltd.