Uranium Resources (URRE) Says Churchrock Sale Agreement Extended
- Wall Street drops as banks, health stocks weigh
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
- Morgan Stanley (MS) Tops Q4 EPS by 17c
- Trump, Brexit uncertainty hit stocks and dollar, gold jumps
- Pre-Open Stock Movers 01/17: (FWP) (CLSN) (GEVO) Higher; (ADHD) (CBK) (UEC) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Uranium Resources, Inc. (URI) (Nasdaq: URRE) announced that it has entered an amendment letter to extend its agreement with Laramide Resources Ltd. (Laramide) to sell URI’s Churchrock and Crownpoint properties in New Mexico until November 30, 2016 in exchange for an extension payment of $250,000 US in cash payable to URI on or before October 21, 2016.
Laramide previously agreed to purchase the Churchrock and Crownpoint properties for $12.5 million under certain terms and conditions previously announced. Other than an extension of the date by which either party could terminate that Agreement from September 30, 2016 to November 30, 2016, no further changes are made to the Share Purchase Agreement dated April 7, 2016 filed with the SEC as Exhibit 2.1 to URI’s Form 8-K filed on April 8, 2016. The $250,000 to be paid on or before October 21, 2016 will be treated as a pre-payment of the $12.5 million purchase price once the transaction closes, and will not be refunded nor credited under any other circumstances.
Christopher M. Jones, President and Chief Executive Officer, said “This demonstration of confidence in closing the Churchrock sale with Laramide allows us to extend the deadline. We appreciate the effort and confidence that the Laramide team has and will put forth.”
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ChinaNet (CNET) Updates Corporate Website
- Bill Barrett Corporation (BBG) Entered Confidentiality Agreement with Bonanza Creek Energy (BCEI) Pertaining to BCEI's Chapter 11 Proceeding
- Two Harbors Investment (TWO) Plans $250M Offering of Convertible Senior Notes
Create E-mail Alert Related CategoriesCorporate News, Spinoffs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!