Yellow Cake plc

Canaccord Genuity’s Corporate Broking team is pleased to announce it has acted as Nomad and Joint Bookrunner on a $140 million placing and PrimaryBid retail offer (together the “Fundraise”) for Yellow Cake plc (“Yellow Cake“).

Yellow Cake (AIM: YCA) offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding physical triuranium octoxide ("U3O8"), as well as potentially through the acquisition of uranium royalties and streams or other uranium related activities. Yellow Cake seeks to generate returns for shareholders through the appreciation of the value of its holding of U3O8 and its other uranium related activities in a rising uranium price environment.

The business is differentiated from its peers by its ten-year Framework Agreement for the supply of U3O8 with Kazatomprom, the world's largest uranium producer. The proceeds of the Fundraise will be used to fund the purchase of 3.5 mmlb of physical uranium under the Kazatomprom Framework Agreement at a cost of $100 million, as well as for general working capital and potential opportunistic purchases of additional uranium.

The Fundraise was significantly oversubscribed, with the shares placed with new and existing institutional investors globally.