Anatolia and Uranium Resources Sign Binding Loan Agreement to Advance Temrezli Project

Mining Weekly reported that Anatolia Resources (TSXV:AEE,ASX:AEK) and Uranium Resources (NASDAQ:URRE), which will be merging this fall to fast-track production, have executed a binding loan agreement.

As quoted in the market news:

Uranium Resources would provide a secured loan of up to A$2-million to Anatolia to allow the company to continue to progress the Temrezli project, in Turkey, which the companies aimed to bring into production as quickly as possible.

The working capital would also be used to cover costs associated with the merger. Under the terms of the merger, which was announced on June 4, Uranium Resources will acquire full control of Anatolia by offering shareholders 0.06579 of its own shares for every one Anatolia share held.  On completion of the merger, Anatolia shareholders will hold a 40.6 percent interest in the combined entity and Uranium Resources shareholders 59.4 percent.

Click here to read the full Mining Weekly report.