Macusani Yellowcake Completes Merger with Southern Andes Energy Inc.

Macusani Yellowcake Inc.(TSXV:YEL) announced that it has completed a merger with Southern Andes Energy. The Company acquired all outstanding common shares of Southern Andes under the terms of the merger.

As quoted in the press release:

In connection with the merger, Macusani has issued 59,271,761 common shares and has reserved a further 28,717,797 common shares for issue on the exercise of former Southern Andes options and warrants.

Macusani, President and CEO, Peter Hooper, commented:

We are extremely pleased the merger with Southern Andes is complete and look forward to realizing the potential of our dominant land position of over 90,000 hectares (900 km2) in the highly prospective Macusani plateau uranium district. We are now in a position to explore the combined geological anomalies which extend from our NI 43-101 compliant resources onto the new properties. Our cash reserves of $12.9M (approximately 8 cents per share) are sufficient to carry out an intensive drilling campaign to the end of 2013.

Click here to read the Macusani Yellowcake Inc. (TSXV:YEL) press release