Eagle Nuclear Energy Changes Auditor; Director Won't Seek Re-election

What Happened

• Eagle Nuclear Energy Corp. (NUCL) filed an 8-K on August 4, 2026 reporting that Adeptus Partners, LLC resigned as the company’s independent registered public accounting firm, effective July 29, 2026. Adeptus’ audit report for the fiscal year ended November 30, 2025 (and prior inception-period audits) included an explanatory paragraph about substantial doubt regarding the company’s ability to continue as a going concern.
• The audit committee approved engagement of CBIZ CPAs P.C. as the new independent registered public accounting firm for the fiscal year ending November 30, 2026, subject to CBIZ’s client acceptance procedures.
• Separately, director Robert Kaplan notified the board on July 29, 2026 that he will not stand for re-election at the Annual Meeting currently scheduled for August 19, 2026; his decision was not due to any disagreement with the company.

Key Details

• Adeptus’ resignation effective date: July 29, 2026; company filed the 8-K on August 4, 2026.
• Adeptus’ prior audit covered fiscal year ended November 30, 2025 and the period from December 14, 2023 (inception) through November 30, 2024. Its report contained a going-concern explanatory paragraph but no adverse opinion or disclaimer.
• The company reported no disagreements with Adeptus on accounting, disclosure, or audit scope, and no reportable events except one material weakness in internal control over financial reporting (insufficient control environment, documentation of review procedures, and segregation of duties).
• Board action: audit committee approved CBIZ CPAs P.C. as successor auditor for FY ending November 30, 2026 (engagement pending client acceptance). Director Robert Kaplan will not seek re-election at the August 19, 2026 meeting.

Why It Matters

• Auditor change and a going-concern note are important for investors because they relate directly to financial reporting reliability and the company’s near-term viability. A new auditor may change audit scope or timing, and remediation of the disclosed material weakness will be important for restoring stronger internal controls.
• The director’s departure reduces board continuity ahead of the annual meeting but was not due to any dispute with management. Investors should watch for updates on the auditor engagement completion, any proposed remediation plans for internal control weaknesses, and any board replacements or nominations announced for the annual meeting.