Uranium American Resources, Inc. (OTC:UARI) Completes Definitive Share Purchase Agreement to Acquire Jag Minerals Pty Ltd.
Rhea-AI Summary
Uranium American Resources (OTC:UARI) has completed the acquisition of 100% of JAG Minerals Pty Ltd, giving UARI full ownership of JAG Minerals US Inc. The deal includes three West-Central US projects and twenty historic high-grade vanadium/uranium mine locations in Colorado and Utah.
The cash portion was amended to a four-month note payable totalling US$2.0 million carrying a 14% PIK interest rate. Management cites completed desktop reviews, a successful radiation survey, and restructured convertible note holders to support near-term development and financing.
AI-generated analysis. Not financial advice.
Positive
- Acquisition of 100% of JAG Minerals (JAG US) completed
- 20 historic high-grade vanadium/uranium mine locations acquired
- US$2.0M short-term note structure enables immediate project financing
- Radiation survey and desktop reviews completed supporting site development
Negative
- 14% PIK interest on US$2.0M note increases financing cost
- Four-month note term creates near-term repayment/liquidity pressure
- Transaction executed amid global financial uncertainty, raising execution risk
News Market Reaction – UARI
On the day this news was published, UARI gained 12.30%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Highlights
UARI has satisfied all conditions to acquire
100% of the issued shares of JAG Minerals Pty Ltd which has a100% interest in JAG Minerals US Inc.; andAcquisition includes three projects located in West Central USA known for historic production of Uranium/Vanadium.
WOODLAND HILLS, CA / ACCESS Newswire / April 21, 2026 / Uranium American Resources, Inc. (OTCID:UARI or the "Company") is pleased to inform shareholders that it has completed all the preconditions to the share purchase agreement and has acquired
The finalization of this acquisition allows the Company to accelerate development of the twenty (20) historic high-grade Vanadium/Uranium mine locations in Montrose County, Colorado and San Juan County, Utah.
To facilitate this completion, UARI has over the course of the last twelve months:
Completed a detailed desktop review of the mining and geological records for the Stateline properties in Colorado;
Undertaken a successful radiation survey at the Sky properties in Wyoming with two new areas to the North and South of Sky; and
Restructured the majority of the Company's convertible loan note holders enabling the Company to complete project financing.
UARI CEO William Hunter stated, "The Company has worked hard over the last 12 months to complete this acquisition against a backdrop of global financial uncertainty. We have mapped out the next steps to accelerate development of the State Line historic mines, advancing our short-term producing plan that will create value for the Company's shareholders. These plans include commencing geophysical and permitting work on the Company's State Line Projects in the near term. This work will allow us to advance these important projects toward production. In addition, the uranium markets are seeing historic tailwinds with spot prices around US
Enquiries
For further information, please contact:
William Hunter
CEO, Uranium American Resources, Inc.
M: +1 203 856 7285
E: bhunter@uraniumamericanresources.com
Forward-Looking Statements Disclaimer
This press release contains "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are not historical facts and include statements regarding the acquisition described herein (the "Transaction") including but not limited to expected benefits and outcomes, operational and financial performance, timelines, resource and reserve estimates, commodity prices, and other future events or conditions. Forward-looking statements are generally identified by words such as "aim", "anticipate", "believe", "could", "estimate", "expect", "forecast", "intend", "may", "plan", "potential", "project", "schedule", "should", "will", "would", or similar expressions.
Forward-looking statements are based on the current expectations, assumptions, estimates and projections of management as at the date of this press release and are subject to known and unknown risks that may cause actual results, performance or achievements to differ materially.
Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable law (including the ASX Listing Rules and the Corporations Act 2001 (Cth)), the Company does not undertake to publicly update or revise any forward-looking statements. Forward-looking statements in this press release are provided for the purpose of giving information about the Transaction and its expected effects and are not guarantees of future performance. Nothing in this press release constitutes, or should be relied upon as, financial product advice, investment advice or a recommendation to acquire or dispose of securities.
SOURCE: Uranium American Resources, Inc.
View the original press release on ACCESS Newswire