Madison Metals to Acquire Interest in Namibia Uranium Mining Licence

Madison Metals to Acquire Interest in Namibia Uranium Mining Licence

TORONTO, Sept. 13, 2022 (GLOBE NEWSWIRE) — Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTC: MMTLF) is pleased to announce that it has entered into an agreement on September 12, 2022 to acquire a 23% interest in Mining Licence 121 (“ML121”) through the acquisition of 24 shares of Namibia Nuclear Corporation (Proprietary) Limited (“ Namibia Nuclear ”) which equals a twenty-four percent (24%) ownership interest in Namibia Nuclear, by way of a share purchase agreement (the “ SPA ”). The consideration paid to the vendors will be $2,000,000 (USD) and 2,000,000 common shares in the capital of the Company to be paid and issued on the closing date, subject to certain conditions precedent contained in the SPA. ML121 is located in the renowned Erongo Uranium Province of Namibia, Africa, where Madison already holds rights to Exclusive Prospecting License 7011 (“EPL-7011”) (Figure 1). Namibia is the world’s […]

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