Azarga Uranium Corp. and URZ Energy Corp. announced the execution of a definitive arrangement agreement pursuant to which Azarga Uranium and URZ Energy will merge to form a new US-focused in-situ recovery (“ISR”) uranium development company. The combination will be effected by way of a plan of arrangement completed under the Business Corporations Act (British Columbia) wherein Azarga Uranium will acquire all of the issued and outstanding shares of URZ Energy for consideration of 2.0 Azarga Uranium shares for each URZ Energy share held. Upon completion of the transaction, the board of directors of Azarga Uranium will include three appointees from each company, with Glenn Catchpole, current CEO & Director of URZ Energy, to be appointed as Chairman. Blake Steele, current President & CEO of Azarga Uranium, will continue in his role as President & CEO of Azarga Uranium.