Verdera Energy Announces Sale of Treeline Project, New Mexico
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TSX-V:V
OTCQB: VUECF
www.verderauranium.com
Transaction Highlights
- Americas Uranium Corp. (CSE: NUCA) (OTCQB: ASRFF) (FSE: WA7) will acquire a 100% interest in the Treeline Property and associated Property Rights, subject to existing and newly granted royalties;
- Consideration consists of
US$100,000 in cash andC$2,000,000 in common shares of Americas Uranium, with 90% of the share consideration payable in staged issuances over the 36 months following closing; - Historical reports from
January 2005 that were reviewed by Axiom Exploration Group show an estimated 1,020,000 lbs of U3O8 on the Property. The estimate is historical in nature and is not a current NI 43-101 mineral resource or reserve1; - The Property is located in
Cibola andMcKinley Counties,New Mexico , in an area with a history of uranium exploration and mining. Historical mining has occurred immediately southeast of the Property at theSan Mateo mine; - Americas Uranium will also receive a right of first refusal over specified additional mineral rights adjacent to the Treeline property.
Transaction Terms
Under the Purchase Agreement, Americas Uranium will acquire a 100% interest in the Treeline Uranium Project and all associated Property Rights in consideration for a cash payment of
Qualified Person
1.The technical information regarding the historical estimate is based upon historical information reviewed by Axiom, including the 2005 Treeline property technical report prepared by
About Verdera Energy Corp.
Verdera Energy Corp. is focused on the development of In-Situ Recovery ("ISR") uranium assets in
1Conoco Inc. (1978). Tree Line Project: Internal Mine Planning Memo. 61 unpatented mineral claims in multiple sections (T13N–T14N). Cutoff = 6 ft of 0.05% U₃O₈. Unclassified historic resources. |
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the completion of the sale of the Treeline Property, the timing and satisfaction of closing conditions under the Purchase Agreement, receipt of the cash, share and royalty consideration, the anticipated benefits of the transaction to the Company and its shareholders, the Company's ability to realize value from its
Forward-looking information is based on management's current expectations, estimates, projections and assumptions as of the date of this news release and is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, among others, the risk that the transaction may not be completed on the terms described herein or at all, that required approvals or conditions may not be obtained or satisfied, that the Company may not receive the expected consideration, that market, regulatory, operational or commodity-price conditions may change, and other risks described in the Company's public disclosure record. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update or revise any forward-looking information, except as required by applicable securities laws.
View original content to download multimedia:https://www.prnewswire.com/news-releases/verdera-energy-announces-sale-of-treeline-project-new-mexico-302867058.html
SOURCE Verdera Energy Corp.
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