Western Uranium Corporation Could Acquire Black Range Minerals

Western Uranium Corporation (CSE:WUC) announced that it has entered into a non-binding letter of intent with Australia’s Black Range Minerals (ASX:BLR) regarding its desire to acquire all issued shares of the company.

As quoted in the press release:

In the Transaction, Black Range shareholders would receive one (1) new Western Uranium share for every 750 Black Range shares held. The Letter of Intent is non-binding and the Transaction remains subject to the parties conducting due diligence with respect to each other, and reaching agreement on the detailed terms for the Transaction and negotiating definitive agreements for the Transaction. The Letter of Intent also requires Black Range to abide by a thirty-day standstill and exclusivity period, and provides for a break fee payable to Western Uranium if a superior proposal for Black Range materializes and is accepted.

Click here to read the Western Uranium Corporation (CSE:WUC) press release