On April 23, 2018, Alabama Graphite Corp. (“Alabama Graphite” or the “Corporation”) (TSXV: CSPG) (OTCQB: CSPGF) (FRANKFURT: 1AG) announced the successful completion of the previously announced Plan of Arrangement whereby Westwater Resources, Inc. (“Westwater”) (NASDAQ: WWR) wholly acquired all of the issued and outstanding common shares of Alabama Graphite.
As a result of the closing of the shareholder and court approved Plan of Arrangement, the common shares of Alabama Graphite were subsequently delisted from the TSX Venture Exchange and the Corporation applied to the relevant securities regulatory authorities to cease to be a reporting issuer in British Columbia, Alberta and Ontario.
Alabama Graphite is a flake graphite exploration and development company as well as an aspiring battery materials production and technology company. Alabama Graphite operates through its wholly owned subsidiary, Alabama Graphite Company, Inc. (a company registered in the state of Alabama), and it has graphite-bearing mineral exploration and development properties in that state.
Westwater (formerly Uranium Resources, Inc.) is focused on developing energy-related materials. Westwater has developed a dominant land position in three prospective lithium brine basins in Nevada and Utah. In addition, Westwater remains focused on advancing the Temrezli in-situ recovery uranium project in Central Turkey. Following the completion of the acquisition of Alabama Graphite, Westwater is now also focused on development of graphite for use in lithium-ion batteries and other applications.
Miller Thomson advised Alabama Graphite in this transaction with a team that included Geoff Clarke, Jonathan Tong, Dezarae Senft, Jay Hoffman and Mack Hosseinian (corporate/M&A) and Gord Plottel (litigation).