Consolidated Uranium and Labrador Uranium Announce Closing of Spin-Out of Labrador Uranium

Consolidated Uranium and Labrador Uranium Announce Closing of Spin-Out of Labrador Uranium

– Labrador Uranium Completes Acquisition of Projects from Consolidated Uranium and Altius Minerals
– Labrador Uranium Completes Subscription Receipt Conversion and Release of Escrowed Proceeds

TORONTO, Feb. 22, 2022 (GLOBE NEWSWIRE) — Consolidated Uranium Inc. (“ CUR ” or “ Consolidated Uranium ”) (TSXV: CUR) (OTCQB: CURUF) and Labrador Uranium Inc. (“LUR” or “Labrador Uranium”) are pleased to announce that the previously announced spin-out of Labrador Uranium through a plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”) has been completed. The Arrangement was effective at 12:01 a.m. (Toronto time) on February 22, 2022 (the “Record Date”).

Pursuant to the Arrangement, CUR transferred ownership of the Moran Lake Project in Labrador (the “Moran Lake Project”) to LUR in exchange for 16,000,000 common shares of LUR (the “LUR Shares”) and LUR has assumed the obligations of CUR pursuant to: (i) the original option agreement for the Moran Lake Project, […]

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