Bayswater Completes Reno Creek Acquisition & US$20 Million Financing

Bayswater Uranium reports the completion of its acquisition of the Reno Creek property and US$20 million financing. 

In consideration for an extensive historical database, rights to a previous deep well injection permit and in exchange for American Uranium Corporation’s (“American”) consent to the transaction and termination of its rights pursuant to a previous joint venture on the Property, the Company paid American US$2,000,000, of which US$1,000,000 was paid in cash and US$1,000,000 was paid through the issuance of 1,833,455 common shares of the Company. All common shares of the Company issued to Strathmore and American have a four month hold period expiring August 8, 2010.

For complete news release, click here.

For Bayswater Uranium’s company profile, click here.