American Energy Fields, Inc. Enters Option Agreement to Purchase Prospect Uranium, Inc.

American Energy Fields, Inc. (OTCBB:AEFI) reports that it has entered into an option agreement for the purchase of Prospect Uranium, Inc., a private Nevada corporation and a subsidiary of Tonogold Resources, Inc. (PINK:TNGL).

The press release is quoted as saying:

The agreement gives AEFI a six-month exclusive option to purchase all of the issued and outstanding common shares of Prospect Uranium in exchange for an aggregate of 4 million common shares of AEFI, pending satisfactory completion of due diligence reviews by AEFI and Prospect and other customary conditions to closing. AEFI paid $15,000 for the option. The Board of Directors of Prospect Uranium and shareholders holding a majority of the outstanding shares of Prospect Uranium voting securities have already approved the transaction.