Mega Uranium Closes Sale of Lake Maitland to Toro Energy

Mega Uranium Ltd. (TSX:MGA) closed the previously announced sale of its Lake Maitland Uranium Project in Western Australia to Toro Energy Limited (ASX:TOE) for 415 million fully paid ordinary shares in the capital of Toro, roughly r 28% of the issued and outstanding shares of Toro.

According to the press release:

As part of the closing of the Transaction, Toro obtained financial support from its major shareholder, OZ Minerals Limited, and received approval of the Australian Foreign Investment Review Board, the Australian Securities Exchange, Toro’s shareholders and Mega’s Lake Maitland project partners, JAURD International Lake Maitland Project Pty Ltd (“JAURD“) and Itochu Minerals & Energy of Australia Pty Ltd (“IMEA“) (together the “ProjectPartners“), who waived certain pre-emptive rights and consented to the Transaction.

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