While the Company already has the ability to work on all of the EPLs, the official approval to transfer these four EPLs accounts for 88% of the recently purchased uranium exploration portfolio, which are now owned by Puranium's 85%-owned Namibian subsidiaries. As per the purchase agreement, now that the EPLs have been transferred the Company has issued to the vendors 88% of the purchase price, being
This issuance increases Puranium's tightly-held, capital structure to 17,018,116 common shares and 5,530,000 common share purchase warrants (CSE: UX.WT), which are exercisable at
'We continue to work through the historical data on the EPLs in order to complete a formulated plan for exploration for the third and fourth quarters of this year. The transfer of the EPLs is the first sign of our good standing with the Namibian Government and we look forward a strong and fruitful relationship moving forward,' stated Puranium President and CEO,
About
The Company is focused on the uranium exploration of its 85% interest in seven EPLs (the 'Estate Uranium Properties') totaling 93,514 hectares in the
Contact:
Email: investors@puraniumenergy.com
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release.
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