CA - ValOre Metals sells its Angilak Property to Labrador Uranium
2023-03-14 11:09:43 ET
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ValOre Metals ( OTCQB:KVLQF ) said Tuesday it agreed to sell to a 100% interest of its Angilak Property uranium project in Nunavut Territory to Labrador Uranium.
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Under terms, the company will receive C$3 million cash and 100 million common shares of Labrador, valued at about C$40 million.
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As a condition to closing of the transaction, Labrador will complete a subscription receipt financing on a “bought deal basis”.
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The bough deal offering will consist of flow through funds and non flow through funds to raise proceeds of not less than C$12 million, with a minimum of C$4 million raised on a non flow through basis.
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ValOre Metals sells its Angilak Property to Labrador Uranium