Shareholders of Overseas Uranium Resources Development Co., Ltd. Approve UEX Acquisition of JCU Exploration Company, Limited

Shareholders of Overseas Uranium Resources Development Co., Ltd. Approve UEX Acquisition of JCU Exploration Company, Limited

(TheNewswire) Saskatoon, Saskatchewan TheNewswire – June 18, 2021 – UEX Corporation (TSX:UEX ) ( OTC:UEXCF) (“UEX” or the “Company”) is pleased to announce that UEX has been notified that the shareholders of Overseas Uranium Resources Development Co., Ltd. (“OURD”) have approved the sale to UEX of OURD’s wholly-owned subsidiary, JCU (Canada) Exploration Company, Limited (“JCU”).

The JCU Transaction

UEX will acquire 100% of the shares of JCU from OURD by paying C$41million and assuming JCU’s existing liabilities (the “ JCU Transaction ”), under the terms of the share purchase agreement (See April 22, 2021 News Release) and amending agreement (See June 15, 2021 News Release). The transaction is expected to close on or prior to August 3, 2021.

UEX has committed to retaining JCU as a corporate subsidiary in order for JCU to meet its existing joint venture commitments. Agreement with Denison Mines Corp. UEX […]

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