Consolidated Uranium Completes Acquisition of Virginia Energy Resources

TORONTO, Jan. 24, 2023 – Consolidated Uranium Inc. ("Consolidated Uranium" or the "Company") (TSXV:CUR) (OTCQB: CURUF) and Virginia Energy Resources Inc. (TSXV: VUI) ("Virginia Energy") are pleased to announce the completion of the previously announced arrangement (the "Arrangement") whereby Consolidated Uranium has acquired all of the issued and outstanding common shares of Virginia Energy (the "Virginia Energy Shares").

Pursuant to the Arrangement, Consolidated Uranium has acquired 100% of the issued and outstanding Virginia Energy Shares not already held by Consolidated Uranium and Virginia Energy shareholders, other than Consolidated Uranium, are entitled to receive 0.26 of a common share of Consolidated Uranium (each whole share, a "Consolidated Uranium Share") in exchange for each Virginia Energy Share held immediately prior to closing of the Arrangement. In aggregate, the Company issued approximately 17,847,828 Consolidated Uranium Shares under the Arrangement to former Virginia Energy shareholders as consideration for their Virginia Energy Shares. Upon closing […]

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