The Supreme Court of British Columbia, Canada is expected to deliver its decision on Paladin Energy's (ASX:PDN) proposed acquisition of Toronto-listed Fission Uranium Corp via a plan of arrangement after the opposition of 11% shareholder CGN Mining Company, a subsidiary of China General Nuclear Power Corp., according to a Wednesday filing with the Australian bourse.
Paladin Energy was also notified by the Minister of Innovation, Science and Industry ordering a national security review of the proposed acquisition under the Investment Canada Act (CA), the filing stated.
There is no certainty the court will grant the final order to approve the proposed acquisition, that the ICA clearance will happen, or that the arrangement will be successful, according to the filing.
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