Vancouver - Energy Metals Corp. (TSXV:EMC) and Quincy Energy Corp. (TSXV:QUI) have agreed to a merger that will see the junior uranium miners combine operations under the Energy Metals banner.
The Vancouver companies said Monday that Quincy will become a wholly-owned subsidiary of Energy Metals, with shareholders receiving 0.2 of an Energy Metals share for each Quincy share.
''The business combination with Quincy is the next step in Energy Metals' strategy to become one of the largest U.S. domestic uranium producers and resource base holders in the public sector,'' Energy Metals president Paul Matysek said in a release.
Energy Metals also said it has completed its previously announced acquisition of Standard Uranium Inc. (TSXV:URN) and Standard shares will be delisted from the TSX Venture Exchange.
Quincy has uranium projects in Arizona, Wyoming, New Mexico, Oregon and Ontario and a portfolio of prospective gold properties in the continental United States.
Energy Metals has uranium properties in Wyoming, Texas and New Mexico.
