Aura Energy (ASX:AEE) announced that MMCAP International SPC and other strategic investors will provide CAD$10 million in funding for a 19.7% stake in its Swedish Häggån Polymetallic Project, valuing the asset at CAD$50 million.
Under a binding agreement, Aura will transfer 100% of the Häggån Project to unlisted Canadian company SIU Metals, receiving shares in the company in return.
Post-transaction, Aura will retain a 78.7% stake in SIU Metals, while the strategic investors will hold 19.7%.
SIU Metals plans to list on the TSX Venture Exchange, with funds raised earmarked for project advancement, including permitting and exploration of surrounding tenements.
Aura Executive Chairman Phil Mitchell said the investment underscores Häggån’s potential, especially following Sweden's recent legislation permitting uranium mining.
The reverse takeover and financing are expected to completed in June 2026, creating a dedicated vehicle for the project while maintaining Aura shareholders’ exposure to its future upside.