Sulliden Mining Capital Inc. Announces Agreement to Acquire Quebec Uranium Mining Concessions
2022年3月24日 - 6:30AM
Sulliden Mining Capital Inc. (TSX: SMC)
(“Sulliden” or the “Company”) is pleased to announce it has entered
into a share exchange agreement dated March 23, 2022, pursuant to
which the Company has agreed to acquire all of the issued and
outstanding common shares of a private Ontario company (“Privco”)
from its shareholders, subject to the terms and conditions set out
in the agreement.
Privco holds 965 uranium claims representing
51,035 hectares of concessions in the mining-friendly jurisdiction
of Quebec. Most of the property is located in the Proterozoic Otish
Supergroup. The claims represent a significant land position. Two
of the three claim blocks surround the most advanced project in the
district, the Matoush Deposit (owned by Consolidated Uranium Inc.
(“Consolidated”)), that displays a historical mineral resource
consisting of 586,000 tonnes @ 0.954% U3O8 of indicated material
and 1,686,000 tonnes @ 0.442% U3O8 of inferred material, at a cut
off of 0.1% U3O8. For more information about the Matoush Deposit,
please see Consolidated’s press release dated August 19, 2021,
which is available under the company’s SEDAR profile at
www.sedar.com.
As consideration for the acquisition of a 100%
equity interest in Privco (the “Acquisition”), Sulliden shall issue
25 million common shares of the Company to the shareholders of
Privco at a deemed price per share of $0.125, for aggregate
consideration of $3,125,000. The Acquisition is an arm’s length
transaction for purposes of the policies of the Toronto Stock
Exchange (“TSX”) and remains subject to customary closing
conditions, including TSX approval. No finder fees are payable in
connection with, and no change of control of Sulliden will result
from, the transaction. The transaction is expected to close in
April 2022.
About Sulliden Mining Capital
Inc.
Sulliden is a mining company focused on
acquiring and advancing brownfield, development-stage and early
production-stage mining projects in the Americas.
Sulliden Mining Capital Inc. On
behalf of the Board “Stan Bharti” Interim Chief Executive
Officer
For more information: Ryan Ptolemy Chief Financial
Officer ryanp@fmfinancialgroup.com
Cautionary statements
There has been insufficient exploration to
define a mineral resource on the properties owned by PrivCo and it
is uncertain if further exploration will result in any target being
delineated as a mineral resource.
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, the proposed transaction to acquire Privco, including
the conditions to closing and the timing to complete the
transaction. Forward‑looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed or
implied by such forward-looking information, including receipt of
necessary approvals, risks inherent in the mining industry and the
other risks described in the public disclosure of the Company which
is available under the profile of the Company on SEDAR at
www.sedar.com. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
THE TSX HAS NOT REVIEWED AND DOES NOT
ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS NEWS
RELEASE.
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