Azincourt Uranium (TSXV:AAZ, FWB:AOU) has reached an agreement with Macusani Yellowcake Inc. in selling a subsidiary of Azincourt. Macusani has now aquired Azincourt’s adjacent uranium properties on the Macusani Plateau in Peru.
Under the Definitive Agreement, Macusani has agreed to acquire 100% of Azincourt’s subsidiary Minergia SAC in consideration for the issuance to Azincourt of 68,350,000 common shares of Macusani, representing approximately 29% of the outstanding shares of Macusani post-transaction. Azincourt has agreed to distribute the Acquisition Shares to its shareholders on a pro rata basis within five months of the closing of the Acquisition Transaction following the receipt of all necessary regulatory and shareholder approvals. The Acquisition Shares will be restricted to exercising no more than 19.9% of the voting rights attached to all common shares of Macusani until the Distribution is completed.
Click here to read the Azincourt Uranium Inc. (TSXV:AAZ,,FWB:AOU) press release
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