Property asset or share purchase agreement
The TSX Venture Exchange has accepted for filing an acquisition of an arm's-length party pursuant to a share purchase agreement dated June 5, 2023, between the company, the subsidiary and the subsidiary's parent company. The subsidiary controls the rights to the Marquez-Juan Tafoya uranium project located in the Grants uranium mineral district in the state of New Mexico.
Pursuant to the terms of the agreement, the company will issue 185 million shares and pay $5-million to the parent in order to complete the acquisition. Of the $5-million, $4-million was paid at closing, with the remaining $1-million due on or before Sept. 25, 2023.
The company has also granted the parent the right to nominate one director to the board of the company, to serve so long as the pcontinues to hold at least 10 per cent of the outstanding shares of the company.
For further details, please refer to the company's news releases dated June 6, 2023, and July 20, 2023.
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