Prosperity Exploration Enters Into Definitive Agreement To Acquire Uranium/Vanadium Mineral Claims Located in Catron County, New Mexico

Prosperity Exploration Enters Into Definitive Agreement To Acquire Uranium/Vanadium Mineral Claims Located in Catron County, New Mexico

is pleased to announce that it has entered into a share exchange agreement dated effective June 23, 2022 among the Company, FirstAmerican Energy Fuels Ltd. (" TargetCo ") and the shareholders of TargetCo (the " Definitive Agreement "), pursuant to which, subject to regulatory approval, the Company will acquire 60% of the issued and outstanding shares of TargetCo (the " Proposed Transaction ") and indirectly acquire an option held by TargetCo for the acquisition of a 100% interest (subject to a 2% NSR) in and to certain mineral claims located in Catron County, New Mexico (the " Property ") pursuant to the terms of a mineral property option agreement between TargetCo and an arm’s length optioner (the " Option Agreement "). Pursuant to the Definitive Agreement, the Company will assume all of the obligation of TargetCo under the Option Agreement, including paying any cash and issuing any shares contemplated […]

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