Yellow Cake

Canaccord Genuity Acts as Joint Bookrunner to Yellow Cake Plc on its US$110 Million Fundraising

Canaccord Genuity is pleased to announce it has acted as Joint Bookrunner, Nomad and Broker to Yellow Cake on its US$110 million fundraising (increased from a minimum of $75 million) (the “Placing”). Yellow Cake is a London-quoted company which offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding physical triuranium octoxide ("U3O8") and commercial opportunities related to these holdings.

The proceeds from the Placing will be used, alongside existing cash resources, for the purchase of 1.16 lbs of U3O8 at a price of US$86.15/lb, fully utilizing the 2026 purchase option under the agreement with Kazatomprom, and to opportunistically purchase additional U3O8 from the spot market. Since 2021, Canaccord has acted as bookrunner on 7 transactions for Yellow Cake, raising total gross proceeds of US$835 million.