Labrador Uranium Provides Update on the Moran Lake Option Agreement

TORONTO, April 08, 2022 (GLOBE NEWSWIRE) — Labrador Uranium Inc. (“ LUR ” or “ Labrador Uranium ”) (CSE: LUR) (F: EI1) is providing an update on the option agreement (the “ Option Agreement ”) which LUR assumed in connection with the acquisition of the Moran Lake Project in Labrador (the “ Moran Lake Project ”) that was completed on February 22, 2022 pursuant to the spin-out transaction involving Labrador Uranium and Consolidated Uranium.

Under the terms of the Option Agreement, the original vendor of the Moran Lake Project (the “ Vendor ”) is entitled to receive certain payments contingent upon the attainment of certain milestones tied to the spot price of uranium. As the uranium month-end spot price for March exceeded USD$50/lb (the “ Pricing Threshold ”), the Vendor is entitled to receive payment of an additional CAD$250,000 in cash and $250,000 through the issuance of common shares of […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet