ORLANDO, Fla., Feb. 15, 2022 (GLOBE NEWSWIRE) — Time-sensitive news to follow in today’s edition of The Emerging Markets Report. Featured company Consolidated Uranium Inc. (“CUR“) (TSXV: CUR) (OTCQB: CURUF), a well-financed international Uranium company with a strategy of consolidating and advancing uranium projects around the globe, has a token of their appreciation for shareholders of record on February 22, 2022.
Earlier in February, the Company’s shareholders overwhelmingly approved the previously announced proposed spin-out of Labrador Uranium Inc. through a plan of arrangement under the Business Corporations Act (Ontario). LUR is currently a majority-controlled subsidiary of CUR focused on the consolidation, exploration and development of uranium projects in Labrador. CUR intends to transfer ownership of the Moran Lake Project to LUR in exchange for 16,000,000 common shares of LUR (“LUR Common Shares”), which LUR Common Shares will be distributed to CUR shareholders on a pro-rata basis pursuant to the provisions of the plan of arrangement.
By simply being a shareholder of Consolidated Uranium February 22, shareholders will receive their own pro-rata portion of the shares.
The Labrador Uranium project is compelling. We took a look at the info on the project on Consolidated’s website and would advise you to as well as it may not be there after the spin-out.
Here’s the link: https://consolidateduranium.com/projects/canada/moran-lake/
From the site:
“The Moran Lake project is located in Labrador, Canada within a bona-fide uranium camp in the Central Mineral Belt. The Central Mineral Belt is host to several other uranium deposits including Paladin Energy’s advanced Michelin project. The “C” zone was the subject of significant exploration activity between 2006 and 2013. In March 2011 a previous operator published a combined uranium and vanadium 43-101 compliant resource estimate.”
It is worth noting that the last year has been very, very good for Uranium prices as the following article explains.
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