Azincourt Uranium signs LOI with Macusani Yellowcake to Consolidate Properties

Company News

Azincourt Uranium Inc. (TSXV:AAZ) has signed a non-binding letter of intent with Macusani Yellowcake Inc. (TSXV:YEL,FWB:QG1) which contemplates the acquisition by Macusani of all of Azincourt’s adjacent uranium properties on the Macusani Plateau in Peru in exchange for 68,350,000 common shares of Macusani. Pending due diligence investigations by both parties, Macusani and Azincourt have agreed to look at signing definitive documentation by May 30 2014 with the transaction expected to be completed by June 2014. The transaction is expected to result in substantial synergies for both companies.

As quoted in the press release:

Macusani expects that Azincourt’s adjacent uranium resources can be easily incorporated into its existing mine plan as contemplated in its January 15, 2014 Preliminary Economic Assessment completed by GBM Minerals Engineering Consultants (the “PEA“), which could result in substantial development and operating efficiencies and economies of scale.