Monterey Minerals Inc. (CNSX:MREY) signed a letter of intent to acquire 85% stake in Seven Namibian Uranium Prospecting Licenses from a group of private prospectors on January 18, 2022. Monterey Minerals Inc. agreed to acquire Seven Namibian Uranium Prospecting Licenses on March 24, 2022. As part of the transaction, Monterey will pay $0.2 million in cash and 8 million common shares.

The Monterey Minerals has received the due diligence approval. Monterey announces that the Company is in the process of a name change. Upon the completion and acceptance of necessary approvals, the Company will officially change its name to Puranium Energy Ltd. As of July 19, 2022.

The Company has received official government approvals from the Namibian Ministry of Mines and Energy for the transfer of licenses