Consolidated Uranium Completes the Acquisition of the Ben Lomond Uranium Project in Queensland, Australia

TORONTO, Oct. 03, 2022 (GLOBE NEWSWIRE) — Consolidated Uranium Inc. (“CUR”, the “Company”, “Consolidated Uranium”) (TSXV: CUR) (OTCQB: CURUF) is pleased to provide the following update on the option agreement with Mega Uranium Ltd. (“ Mega ”) (TSX: MGA) that was previously announced on May 14, 2020, as amended (the “ Option Agreement ”), providing CUR with the option to acquire a 100% undivided interest in the Ben Lomond and Georgetown uranium projects in Australia.

CUR has completed the acquisition of the Ben Lomond project for consideration comprised of $2,500,000 in connection with the exercise of the option and an additional $535,000 in connection with the spot price contingent payment terms of the Option Agreement. The total amount of $3,035,000 was satisfied by the issuance of 1,340,548 common shares of CUR (“ Common Shares ”), at a deemed price of $2.264 per share based on the five-day volume weighted […]

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