Global Uranium Completes Acquisition of Five Uranium Projects in Wyoming, USA

Rhea-AI Summary

Global Uranium Corp. (CSE: GURN) has successfully completed the acquisition of five uranium projects in Wyoming, USA, covering a total area of 5,040 acres. The acquisition, initially announced on June 17, 2024, involves the purchase of a 100% interest in Federal unpatented lode mineral claims and Wyoming State mineral leases. As per the asset purchase agreement, Global Uranium paid US$70,000 and issued 400,000 common shares to the vendor, Foster Wilson. The issued shares are subject to a four-month and one-day hold period, with additional voluntary resale restrictions releasing half of the shares four months after issuance and the remaining half eight months after issuance.

Positive

• Acquisition of 100% interest in five uranium projects in Wyoming, USA
• Total land package of 5,040 acres acquired
• Expansion of company's uranium portfolio in a strategic location

Negative

• US$70,000 cash outlay for the acquisition
• Issuance of 400,000 common shares, potentially diluting existing shareholders
• Resale restrictions on issued shares may limit short-term liquidity

Global Uranium has acquired a total of five projects covering 5,040 acres

VANCOUVER, British Columbia, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Global Uranium Corp. (CSE: GURN) (the “Company”) is pleased to announce that further to its news release dates June 17, 2024, it has closed its previously announced acquisition of a 100% interest in certain Federal unpatented lode mineral claims and Wyoming State mineral leases located in Wyoming, USA (the “Claims”), pursuant to the terms of an asset purchase agreement (the “Purchase Agreement”) with Foster Wilson (the “Vendor”).

In consideration for the Claims, the Company paid to the Vendor US$70,000 and issued to the Vendor 400,000 common shares in the authorized share structure of the Company (the “Consideration Shares”). In accordance with applicable securities laws, the Consideration Shares are subject to a four month and one day hold period. In addition, the Consideration Shares are subject to the following voluntary resale restrictions: one-half of the Consideration Shares being released on the date which is four months following the date of issuance of such Consideration Shares (the “Effective Date”), and the remaining Consideration Shares being released on the date which is eight months following the Effective Date.

About Global Uranium Corp.

Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. The Company currently holds seven key uranium projects: the Wing Lake Property in the Mudjatik Domain of Northern Saskatchewan, Canada; the Northwest Athabasca Joint Venture with Forum Energy Metals Corp. and NexGen Energy Ltd. in the Northwest Athabasca region of Saskatchewan, Canada; and the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Projects in Wyoming, USA.

ON BEHALF OF THE BOARD OF DIRECTORS

“Ungad Chadda”
Ungad Chadda
CEO

604-359-1248
info@globaluranium.com

FAQ

What uranium projects did Global Uranium Corp (GURFF) acquire in Wyoming?

Global Uranium Corp acquired five uranium projects in Wyoming, USA, covering a total area of 5,040 acres. The acquisition includes Federal unpatented lode mineral claims and Wyoming State mineral leases.

How much did Global Uranium Corp (GURFF) pay for the Wyoming uranium projects?

Global Uranium Corp paid US$70,000 in cash and issued 400,000 common shares to the vendor, Foster Wilson, for the acquisition of the Wyoming uranium projects.

When did Global Uranium Corp (GURFF) complete the acquisition of the Wyoming uranium projects?

Global Uranium Corp completed the acquisition of the Wyoming uranium projects on September 17, 2024, as announced in their press release.

What are the resale restrictions on the shares issued by Global Uranium Corp (GURFF) for the Wyoming acquisition?

The shares issued are subject to a four-month and one-day hold period. Additionally, half of the shares will be released four months after issuance, and the remaining half will be released eight months after issuance.