After very "thorough and comprehensive" vetting by Canadian authorities, Paladin Energy has got the tick of approval for its acquisition of Fission Energy.The C$1.14 billion equity transaction unveiled in June is now set to close next month.The deal was conceived three years ago, according to Paladin CEO Ian Purdy.
In tandem with the TSX listing, Paladin must appoint a Canadian citizen to its board, and all senior executives of the company must "not have current or prior contractual, financial or fiduciary relationships with any state-owned enterprise of the People's Republic of China".The now-set-to-be Paladin-owned PLS uranium project is some years off reaching the development stage.PLS doubles Paladin's development portfolio in Canada given its long held Michelin project in Labrador.