Pursuant to the Arrangement, CUR transferred ownership of certain indirect wholly-owned subsidiaries that hold eight
As part of the Arrangement, CUR distributed 3,876,786 of the PUR Shares it received under the Arrangement to holders (the “CUR Shareholders”) of common shares of CUR (the “CUR Shares”) on a pro rata basis, such that CUR Shareholders as of
In addition, PUR has completed the previously announced acquisition (the “Premier Transaction”) all of the outstanding shares of
In connection with the Arrangement and the previously announced subscription receipt financing (the “Offering”) conducted by PUR, a total of 4,763,457 subscription receipts of PUR (each, a “Subscription Receipt”) were issued, and were converted into 4,763,457 PUR Shares and 2,381,727 common share purchase warrants of PUR (each, a “Warrant”). Each Warrant entitles the holder to purchase one PUR Share at a price of
Effective as of the closing of the Arrangement and Premier Transaction, the PUR management team is comprised of
PUR has received the conditional approval from the
Early Warning Reporting
As part of the Arrangement, CUR was issued 7,753,572 PUR Shares from treasury of PUR and now has beneficial ownership and control and direction over an aggregate of 3,876,786 PUR Shares, or 24.594% of the PUR Shares. When taking into account the 12,000 Compressed Shares of PUR issued and outstanding, each of which is convertible into 1,000 PUR Shares, and assuming their conversion to PUR Shares, CUR has beneficial ownership and control and direction over 13.964% of the Common Shares. The PUR Shares issued to CUR and now held were issued at the equivalent of
All PUR Shares held by CUR are held for investment purposes. In the future, CUR (directly or indirectly), may acquire and/or dispose of securities of PUR through the market, privately or otherwise, as circumstances or market conditions may warrant. Each of PUR and CUR are located at
This portion of this news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning report of CUR will be available under PUR’s profile on SEDAR+ (www.sedarplus.ca).
About
The Company is currently advancing its portfolio of permitted, past-producing conventional uranium and vanadium mines in
About Premier American Uranium
Backed by
For More Information, Please Contact:
Chairman and CEO
info@consolidateduranium.com
Toll-Free: 1-833-572-2333
Twitter: @ConsolidatedUr
www.consolidateduranium.com
CEO and Director
info@premierur.com
Toll-Free: 1-833-572-2333
Twitter: @PremierAUranium
www.premierur.com
Neither
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the anticipated timing for delivery of the PUR Shares to CUR Shareholders and the Listing; final approval of the Listing by the TSXV; and other activities, events or developments that are expected, anticipated or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including the ability of the parties to receive, in a timely manner and on satisfactory terms, necessary regulatory approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Listing; and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: the diversion of management time on transaction-related issues; expectations regarding negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations, delays in obtaining governmental or other approvals and the risk factors with respect to
Although CUR and PUR have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. CUR and PUR undertake no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
Source:
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