Chinese state ownership in a B.C. junior uranium exploration company and the Australia miner that wants to buy the company could complicate, delay and or even frustrate a $1.1 billion acquisition.
Fission Uranium (TSX: FCU, OTCQX: FCUUF), based in Kelowna, owns the PLS uranium project in Saskatchewan.
In June, Australia’s Paladin Energy Ltd (ASX:PDN OTCQX:PALAF) made a $1.1 billion bid for Fission Uranium. Under the deal, Fission Uranium shareholders would be bought out and end up owning 25 per cent of Paladin Energy.
But the proposed sale will now have to pass a national security review.
Fission Uranium shareholders include China’s CGN Mining Company Ltd., which opposed the plan of
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