TORONTO, June 04, 2021 (GLOBE NEWSWIRE) — Mega Uranium Ltd. (MGA: TSX) is pleased to announce that it has participated in the recently closed equity financings of Toro Energy Limited (ASX: TOE; “Toro Energy”) and International Consolidated Uranium Inc. (TSXV: CUR; “Consolidated Uranium”), two publicly-listed issuers engaged in uranium exploration and development activities.
Mega’s AUD$1.5M investment in Toro Energy formed part of Toro Energy’s AUD$15M aggregate equity financing, that, together with and subject to completion of its proposed AUD$6.7M debt conversion transaction (which requires shareholder approval), would position Toro Energy as debt-free and well-funded for its ongoing development and exploration programs. Mega has been a long-time shareholder and supporter of Toro Energy dating back to 2013 and now holds a 12.76% equity interest in the company.
Mega also invested an additional CAD$482,000 in Consolidated Uranium’s recently completed CAD$9M equity financing. The financing brought Consolidated Uranium’s balance sheet to approximately CAD$23M in […]
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