Cameco Corporation (TSX:CCO) and Orano Canada Inc. have reached agreement to acquire a 7.875% stake in Cigar Lake Mine from Idemitsu Canada Resources Ltd for approximately CAD 190 million on May 10, 2022. Cameco's purchase cost to acquire its respective share of Idemitsu's interest in Cigar Lake is approximately CAD 107 million, subject to customary closing adjustments. Orano Canada will purchase the share of Idemitsu's interest for approximately CAD 80 million. Upon closing, Cameco's ownership stake in the Cigar Lake uranium mine in northern Saskatchewan will increase by 4.522 percentage points to 54.547%, while Orano's share will rise by 3.353 percentage points to 40.453%. TEPCO Resources Inc. retains the remaining 5% interest in the property. The acquisition is subject to certain regulatory approvals and other standard closing conditions. The transaction is expected to close in the second quarter of 2022. Fred Pletcher, Randy Morphy and Danielle Lewchuk of Borden Ladner Gervais LLP acted as a legal advisor to Cameco Corporation. Cameco Corporation (TSX:CCO) and Orano Canada Inc. completed the acquisition of additional 7.875% minority stake in Cigar Lake Mine from Idemitsu Canada Resources Ltd on May 19, 2022.