Nuclear Fuels Announces Change of Auditor

Rhea-AI Summary

Nuclear Fuels (CSE:NF, OTCQX:NFUNF) has announced a change of auditor, switching from MNP LLP to Davidson & Company LLP, effective May 10, 2024.

This change follows the completion of a reverse takeover with Uravan Minerals, as mentioned in a news release on July 10, 2023. The company has invoked an exemption from certain change of auditor requirements and confirms there were no reportable events with MNP LLP.

Positive

• Completion of reverse takeover with Uravan Minerals might indicate strategic expansion.
• Davidson & Company LLP as new auditors might bring fresh perspectives and expertise.
• No reportable events between Nuclear Fuels and MNP LLP ensures a smooth transition.

Negative

• Change of auditor can be perceived as a disruption, raising questions about previous audits.
• Reliance on an exemption from change of auditor requirements may suggest a potential lack of full transparency.

CSE:NF

VANCOUVER, BC, May 14, 2024 /PRNewswire/ - Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") announces that it has changed its auditor from MNP LLP, Chartered Professional Accountants, to Davidson & Company LLP, Chartered Professional Accountants, effective May 10, 2024.

The change was made in connection with the completion of the reverse takeover transaction between the Company and Uravan Minerals Inc. as detailed in a news release dated July 10, 2023.

The Company is relying on an exemption from the change of auditor requirements set out in Section 4.11(3) of NI 51-102 and in this regard confirms that there were no reportable events between the Company and MNP.

About Nuclear Fuels Inc.

Nuclear Fuels Inc. is committed to aggressive exploration of district-scale In-Situ Recovery ("ISR") uranium projects in proven and prolific jurisdictions. Focused on its priority Kaycee Project, located in Wyoming's Powder River Basin, our goal is to advance the project onto a path to production.  enCore Energy Corp., under certain circumstances, maintains the right to back-in to 51% ownership by paying the Company 2.5X its exploration expenditures and financing the project to production (recoverable from production).   With existing historic resources through a 33-mile trend, 110+ miles of mapped roll-fronts and 3,800 drill holes, Nuclear Fuels has secured the district under one company's control for the first time since the early 1980's. Nuclear Fuels also provides a unique model for development of our other uranium projects and has established a pipeline of future opportunities in well established uranium districts.

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/nuclear-fuels-announces-change-of-auditor-302145575.html

SOURCE Nuclear Fuels Inc.

FAQ

Why did Nuclear Fuels (NFUNF) change its auditor?

Nuclear Fuels changed its auditor from MNP LLP to Davidson & Company LLP following a reverse takeover with Uravan Minerals.

When did Nuclear Fuels (NFUNF) change its auditor?

The change of auditor became effective on May 10, 2024.

What is the stock symbol for Nuclear Fuels?

Nuclear Fuels is traded under the stock symbol NFUNF on the OTCQX.

Was there any issue reported with the previous auditor of Nuclear Fuels (NFUNF)?

No, Nuclear Fuels confirmed that there were no reportable events with MNP LLP, the previous auditor.

Why is the change of auditor significant for Nuclear Fuels (NFUNF)?

The change may impact investor confidence and reflects a strategic shift following the reverse takeover with Uravan Minerals.