Consolidated Uranium Exercises Option to Acquire the Ben Lomond Uranium Project in Queensland, Australia

is pleased to provide the following updates on the option agreement (the “ Option Agreement ”) with Mega Uranium Ltd. (“ Mega ”) (TSX: MGA) that was previously announced on May 14, 2020 and subsequently closed on June 18 2020, providing CUR with the option to acquire a 100% undivided interest in the Ben Lomond and Georgetown uranium projects in Australia.

CUR has provided notice to Mega of its exercise of the option to acquire the Ben Lomond Project, for consideration of $3,035,000, comprised of $2,500,000 for the exercise of the option and an additional $535,000 Mega is entitled to receive under the spot price contingent payment terms of the agreement. The entire amount will be satisfied by the issuance of 1,340,548 Common Shares, at a deemed price of $2.264 per share based on the 5-Day VWAP of the Common Shares up to June 10, 2022, being the second business […]

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