Urano Energy Corp, a mineral exploration company, has recently announced its plans to acquire advanced uranium properties in Utah and Colorado. The company has entered into purchase agreements to acquire mineral claims and mining leases in these states, which are considered to be prospective for uranium mining. The total consideration for this acquisition is set at US$5,865,000 in cash and US$4,800,000 in shares of the company, to be paid in installments over five years.
In addition to the cash and shares, the vendors will retain a 1% gross royalty on all uranium produced from the mineral claims and a net smelter returns royalty of 10% on all vanadium produced on the property. It is important to note that all vendors involved in these transactions are at arm’s length to the company, ensuring transparency and independence in the deal.
The company plans to issue a further news release providing more detailed information about the uranium properties upon the closing of the acquisition, which is expected to take place around December 2, 2024. Urano Energy Corp, known for its focus on conventional uranium assets in the United States, also holds a portfolio of gold and copper projects in Canada.
It is essential to highlight that the securities involved in these transactions have not been registered under the United States Securities Act of 1933 or any state securities laws. Therefore, they may not be offered or sold within the United States or to U.S. Persons unless they are registered under the applicable laws or an exemption from registration is available.
As with any investment or acquisition, there are risks and uncertainties involved. The company acknowledges this by stating that forward-looking statements included in the announcement are subject to such risks and uncertainties. While the company believes that these statements are based on reasonable assumptions, there is no guarantee that actual results will match the expectations expressed in the forward-looking statements. Factors such as market prices, availability of capital, and general economic conditions can all impact the outcome of these transactions.
In conclusion, Urano Energy Corp’s acquisition of advanced uranium properties in Utah and Colorado represents a strategic move for the company as it continues to focus on expanding its mineral exploration activities in the United States. The details of the acquisition, including the specific properties involved, will be disclosed in a future news release, providing investors and stakeholders with more insights into this significant development.
