will clear a national security probe, as Ottawa makes enquiries about CGN Mining Co. Ltd., a China-based state-owned deal stakeholder.
Ian Purdy, the chief executive of Paladin, said in an interview that meetings earlier this week with government officials about the transaction had gone well. The CGN investment dates back to 2016 and came six years before Ottawa unveiled stringent measures aimed at preventing any future investment from China into Canadian critical minerals companies.
If the transaction goes ahead, the Chinese investor’s influence will fall dramatically. CGN will not have a seat on Paladin’s board, Mr. Purdy said. The offtake agreement will only last for three years, and CGN’s equity ownership will fall from a 12 per cent holding in Fission to about a 2.5 per cent stake in Paladin, he added.
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