Battery Metals

Consolidated Uranium Inc. (the "Company", "CUR" or "Consolidated Uranium") (TSXV: CUR) (OTCQB: CURUF) is pleased to announce that it has filed the management information circular and related meeting materials (collectively, the "Meeting Materials") for the special meeting of CUR shareholders to be held on February 3, 2022 at 9:30am EST (the "Meeting"). The purpose of the Meeting is, among other things, to consider and, if thought advisable, to pass, with or without variation, a special resolution of the CUR shareholders (the "Arrangement Resolution") approving the previously announced proposed spin-out of Labrador Uranium Inc. ("LUR") through a plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement").

On October 17, 2021, CUR and LUR entered into an arrangement agreement pursuant to which the parties agreed to effect the proposed spin-out of LUR, currently a majority-controlled subsidiary of CUR. The Arrangement will be effected by way of a court-approved plan of arrangement. If completed, the Arrangement will result in, among other things, CUR transferring 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.

CUR shareholders must hold their CUR Common Shares until 12:01am on the effective date of the Arrangement (the "Effective Date") in order to receive their pro rata portion of the LUR Common Shares being distributed pursuant to the Arrangement. CUR will disseminate a press release five business days in advance of the Effective Date once all of the conditions to closing of the Arrangement have been satisfied in accordance with the policies of the TSX Venture Exchange (the "TSXV") in order to notify CUR shareholders of the record date for purposes of the distribution.

LUR has applied to list the LUR Common Shares on the on the Canadian Securities Exchange (the "CSE") following completion of the Arrangement. Listing is subject to the approval of the CSE in accordance with its original listing requirements. Completion of the Arrangement and listing of the LUR Common Shares on the CSE is expected to be completed by the end of February 2022.

The mailing of the Meeting Materials has commenced, and shareholders should receive them shortly. The Meeting Materials are also available at www.consolidateduranium.com or under the Company's profile on SEDAR at www.sedar.com .

Technical Report

Concurrently with the filing of the Meeting Materials, the Company announces that it has filed an independent technical report prepared by Terrane Geoscience Inc. for the Moran Lake Project (the "Technical Report") in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects . The Technical Report is available for review under the Company's profile on SEDAR at www.sedar.com .

The Meeting

In order to proactively deal with the unprecedented public health impacts of COVID-19, to mitigate risks to the health and safety of our communities, CUR shareholders, employees and other stakeholders and to ensure compliance with local laws or orders restricting the size of public gatherings in response to COVID-19, CUR will hold the Meeting in a virtual-only format. CUR Shareholders wishing to attend the Meeting may do so by calling 1-877-407-2991 (toll-free North America) or 1-201-389-0925 (International) and instructions will be provided as to how CUR shareholders entitled to vote at the Meeting may participate and vote at the Meeting. CUR shareholders will not be able to physically attend the Meeting.

About Consolidated Uranium

Consolidated Uranium Inc. (TSXV: CUR) (OTCQB: CURUF) was created in early 2020 to capitalize on an anticipated uranium market resurgence using the proven model of diversified project consolidation. To date, the Company has acquired or has the right to acquire uranium projects in Australia, Canada, Argentina, and the United States each with significant past expenditures and attractive characteristics for development. Most recently, the Company completed a transformational strategic acquisition and alliance with Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a leading U.S.-based uranium mining company, and acquired a portfolio of permitted, past-producing conventional uranium and vanadium mines in Utah and Colorado. These mines are currently on stand-by, ready for rapid restart as market conditions permit, positioning CUR as a near-term uranium producer.

For More Information, Please Contact

Philip Williams
CEO and Chairman
pwilliams@consolidateduranium.com

Mars Investor Relations
+1 647 557 6640
cur@marsinvestorrelations.com

Twitter: @ConsolidatedUr
www.consolidateduranium.com

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 activities, events or developments that the Company expects or anticipates will or may occur in the future including expectations regarding the completion of the Arrangement and anticipated timing for completion of the Arrangement and listing of the LUR Common Shares and the Company's ongoing business plan. 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 that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration and development activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company 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: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no current 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 set out in the Company's annual information form in respect of the year ended December 31, 2020 filed with the Canadian securities regulators and available under the Company's profile on SEDAR at www.sedar.com.

Although the Company has 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. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.



Primary Logo

News Provided by GlobeNewswire via QuoteMedia

UUUU
Energy Fuels Secures Major Rare Earth Land Position in Brazil

Energy Fuels Secures Major Rare Earth Land Position in Brazil

~58.3 square mile (~37,300 acre) heavy mineral sand position has potential to feed the Company's White Mesa Mill with rare earth element and uranium bearing natural monazite sand for decades

Energy Fuels Inc. ( NYSE American: UUUU ) ( TSX: EFR ) ( "Energy Fuels" or the "Company" ) is pleased to announce that it has entered into binding agreements (the " Purchase Agreements ") to acquire seventeen (17) mineral concessions (the " Transaction ") between the towns of Prado and Caravelas in the State of Bahia, Brazil totaling 15,089.71 hectares (approximately 37,300 acres or 58.3 square miles) (the " Bahia Project ").

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Release - Energy Fuels Secures Major Rare Earth Land Position in Brazil

Release - Energy Fuels Secures Major Rare Earth Land Position in Brazil

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") is pleased to announce that it has entered into binding agreements (the "Purchase Agreements") to acquire seventeen (17) mineral concessions (the "Transaction") between the towns of Prado and Caravelas in the State of Bahia, Brazil totaling 15,089.71 hectares (approximately 37,300 acres or 58.3 square miles) (the "Bahia Project"). Read More >>

News Provided by Channelchek via QuoteMedia

Keep reading...Show less
Energy Fuels  - Are we seeing the first signs of ramping up?

Energy Fuels - Are we seeing the first signs of ramping up?

Energy Fuels reported 2022-1Q results generally in line with expectations and gave an update on operations. Production and sales remain small (modest Vanadium sales) making bottom line results largely a function of operating costs. A slight increase in operating losses ($10.2m versus $8.8m) and net losses ($14.7m versus $10.9m) reflect additional ramp up costs for UUUU's rare earth element (REE) development and were expected. Development discussions were largely a repeat of the April update. But wait! A uranium supply contract?!?! Management plans to separate REE elements, efforts to access new REE supplies (Monzanite), and its medical isotope recovery partnership. This is all old news. However, management also announced on a call with investors (not in the press release) that it had just signed a uranium supply contract. This is the first contract in several years and a clear sign that the uranium market has improved to a point where UUUU may ramp up production, "perhaps as early as this summer." Read More >>

News Provided by Channelchek via QuoteMedia

Keep reading...Show less
Energy Fuels Announces Q1-2022 Results, Including Continued Robust Balance Sheet, Market-Leading U.S. Uranium Position & Rare Earth Production

Energy Fuels Announces Q1-2022 Results, Including Continued Robust Balance Sheet, Market-Leading U.S. Uranium Position & Rare Earth Production

Webcast on May 18, 2022

Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") today reported its financial results for the quarter ended March 31, 2022 . The Company's annual report on Form 10-K has been filed with the U.S. Securities and Exchange Commission (" SEC ") and may be viewed on the Electronic Document Gathering and Retrieval System (" EDGAR ") at www.sec.govedgar.shtml on the System for Electronic Document Analysis and Retrieval (" SEDAR ") at www.sedar.com and on the Company's website at www.energyfuels.com . Unless noted otherwise, all dollar amounts are in U.S. dollars.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Energy Fuels  - Production Timeline May Be Moving Up. Price Target Raised

Energy Fuels - Production Timeline May Be Moving Up. Price Target Raised

Energy Fuels ships Uranium, Vanadium and Rare Earth Element (REE) Carbonate in the same week. The shipment of Vanadium is not unusual nor is the shipment of REE Concentrate although it is worth noting that shipments of both elements can be erratic. The shipment of Uranium to an enrichment center in Illinois does not represent sales, per se, but can be viewed as a sign that the company is getting closer to sales. While not significant by itself, the shipment all three elements in the same week represents a milestone for the company. Energy Fuels REE production is advancing. The company has begun producing a "more advanced" form of REE Carbonate. Importantly, it was achieved with existing operations and will set the stage for the company as it takes the next step of considering complete separation of Rare Earth Elements. Energy Fuels has already begun a pilot to evaluate the separation of heavy elements and has engaged a firm to explore the separation of light elements. At this point, we do not include the separation of elements in our models. However, we do assume a growing level of REE Carbonate production. Uranium prices are soaring. Spot uranium prices have risen to $63 per pound. When we began covering Energy Fuels and the uranium industry a few years ago, prices were near $30, a price too low to justify production. We believe Energy Fuels is able to produce Uranium at a cost near $40/lb. at its White Mesa plant. A key test for Energy Fuel and other uranium companies will be whether or not consumers (electric utilities) will begin to sign long-term contracts. Production is moving forward. We are raising our price target. Rising uranium prices lead to to believe that the company is close to signing a contract and restarting uranium sales. In addition to raising our uranium price forecast to $60/lb. in 2022 and rising $5/lb. annually until hitting $80/lb., we now expect the company to begin selling uranium in 2023 instead of 2024. We have also accelerated our expectations regarding REE Carbonate sales to levels in line with management projections given recent developments. The combined impact of the aforementioned adjustments increased our estimated fair value for the stock to $13 per share from $9 per share and our price target accordingly. Read More >>

News Provided by Channelchek via QuoteMedia

Keep reading...Show less

Transaction Increasing Cameco's Ownership Stake in Cigar Lake Closes

CAMECO (TSX: CCO; NYSE: CCJ) announced that the acquisition of Idemitsu Canada Resources Ltd.'s (Idemitsu) 7.875% participating interest in the Cigar Lake Joint Venture by Cameco and Orano Canada Inc. (Orano) closed today.

Cameco's ownership stake in the Cigar Lake uranium mine in northern Saskatchewan now stands at 54.547%, 4.522 percentage points higher than it was prior to the transaction, while Orano's interest is 40.453%, an increase of 3.353 percentage points from its previous share. TEPCO Resources Inc. retains the remaining 5% interest in the property.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

NexGen Files Management Information Circular in Connection with Annual General and Special Meeting of Shareholders

NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE MKT: NXE) (ASX: NXG) is pleased to announce it has mailed the Notice of Meeting and Management Information Circular to shareholders of record as of May 9, 2022 in connection with the Annual General and Special Meeting to be held on Thursday, June 23, 2022 at 2:00 p.m. (Pacific Time) .

Your vote is important - please vote today.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
two chess pieces, both knights, face each other

How Geopolitics are Impacting the Nuclear Fuel Sector

As the war in Ukraine stretches into the third month, it has become evident that the energy sector has been disproportionately affected by embargoes, bans and sanctions against Russia.

With West Texas and Brent Crude oil holding above US$100 a barrel, motorists in North America have seen gas prices rise to record highs. Similarly, natural gas prices have also hit fresh highs this year, as well as coal, which hit an all-time high of US$422 per metric ton (MT) in March.

Uranium, the energy fuel used to power nuclear generators for electricity production, has also experienced a significant price increase since Russia invaded Ukraine.

Keep reading...Show less
Purepoint Uranium Outlines Upcoming Exploration Session

Purepoint Uranium Outlines Upcoming Exploration Session

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today outlined their remaining 2022 exploration plans for the Hook Lake Joint Venture and eight of their 100% owned projects in the Athabasca Basin, Saskatchewan Canada. These plans include follow-up drilling at the Company's Red Willow project where this winter's program outlined an astounding 1.2 kilometres of continuous elevated radioactivity (see news release April 19, 2022).

"By the end of the year we will have completed updated field work at all of our ten, 100% owned uranium projects. This work has included follow-up drilling at some of our high priority targets, inaugural drilling at our more advanced prospects and initial geophysical work over our earlier stage properties," noted Chris Frostad, President & CEO of Purepoint. "Although we continue to advance our entire portfolio, we are most excited about returning to our newest priority at Red Willow's Osprey Zone. The discovery of a clearly defined continuous zone of radioactivity extending across such a long distance, with peaks exceeding 33,000 counts per second, provides an exciting preview of what our next program may demonstrate."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Baselode Continues to Hit Near-Surface Mineralization and Some of the Strongest Intersections of Elevated Radioactivity

Baselode Continues to Hit Near-Surface Mineralization and Some of the Strongest Intersections of Elevated Radioactivity

Highlights:

  • Three drill holes have now intersected elevated radioactivity within 45 m of vertical depth from surface
  • Two holes returned some the strongest elevated radioactivity intersections on ACKIO
  • AK22-040: 744 cps over 22.75 m at 115.05 m (new 2 nd best radioactivity intersection)
  • AK22-023: 538 cps over 29.25 m at 129.95 m (new 4 th best radioactivity intersection)
  • Change in drill azimuth direction has yielded a 100% intersection success

Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (" Baselode " or the " Company ") is pleased to provide an update on the ongoing 20,000 metre diamond drilling program (the " Program ") on the ACKIO high-grade uranium discovery (" ACKIO "), Hook project (" Hook "), Athabasca Basin area, northern Saskatchewan (see Figure 1 and Table 1 ).

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×