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Aldrin Resource Corp. (TSXV:ALN) announced the signing of a property option agreement with Fission 3.0 Corp. (TSXV:FUU) for a 50% interest in the Key Lake Property Package in the southeastern Athabasca Basin region, Saskatchewan, for $6,900,000 of staged exploration expenditures on or before May 1, 2019.
As quoted in the press release:
Under the terms of the Option Agreement, Aldrin has agreed, subject to the satisfaction of certain conditions precedent including the receipt of TSX Venture Exchange (the “Exchange”) acceptance, to acquire up to a 50% interest in the Key Lake Package by incurring $6,900,000 of staged exploration expenditures (per Table 1) on or before May 1, 2019. Aldrin will pay Fission 3.0 $100,000 cash and issue to Fission 3.0 a total of 1,900,000 shares within 10 business days of TSX Venture Exchange (“TSXV”) approval of the Option and JVA.
Dev Randhawa, Chairman and CEO of Fission 3.0, commented,
“… This latest agreement gives Aldrin and its shareholders the opportunity to partner with the top technical teams in the uranium exploration sector and enables Fission to explore a highly prospective part of its project portfolio.”
Click here to read the Aldrin Resource Corp. (TSXV:ALN) press release
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