Cascade and Bayswater Amend Purchase Agreement for Mali Uranium Property

- May 25th, 2011

Cascade Resources Ltd. (TSE:CC) reports amendment to agreement concerning the acquisition of the Samit uranium project, in Mali from Bayswater Uranium Corporation (CVE:BAY).

Cascade Resources Ltd.  (TSX:CC) reports amendment to agreement concerning the acquisition of the Samit uranium project, in Mali from Bayswater Uranium Corporation (TSXV:BAY).

The press release is quoted as saying:

The Amending Agreement cancels the promissory note in favour of the provision of an additional 1,000,000 common shares in Cascade.  As a result of the amendment, the considerations for NCM are now made up of (1) the issuance to Bayswater of a total of 2,000,000 common shares in the Company and (2) the granting of a 2.5% net smelter returns royalty from production occurring on the property.  The acquisition of NCM remains subject to regulatory approval, including the approval of the TSX Venture Exchange.

Click here to access the entire news release.

Click here to access Bayswater’s company profile.

Leave a Reply