ValOre Metals Corp. (TSXV: VO) announced an extension of the closing deadline for the sale of its 51% stake in Hatchet Uranium Corp. to April 30, 2026, from the previous March 31 deadline.

The Vancouver-based company continues working toward completing the disposition of Hatchet Uranium shares to Future Fuels Inc. HUC shareholders unanimously approved the transaction on March 10, 2026. The closing remains subject to TSX Venture Exchange acceptance.

As part of the TSXV approval process, ValOre disclosed a series of transactions involving Hatchet Uranium since 2024. The company formed Hatchet Uranium as a subsidiary to derive value from its Saskatchewan uranium exploration project while focusing on its Brazilian Pedra Branca platinum group metals property.

Key transactions included the initial transfer of the Hatchet Property to the subsidiary in early 2024, with Beaconsfield Ventures acquiring a 25% stake. Subsequent flow-through share financings in May and December 2024, and January 2025, raised approximately $1.9 million total, reducing ValOre's ownership from 75% to 56.8%.

In October 2024, Hatchet Uranium entered agreements with Skyharbour Resources to acquire additional Saskatchewan uranium properties. The company issued 1.45 million units to Skyharbour in February 2025 as part of a property purchase agreement, further diluting ValOre's interest to approximately 51%.

Under a consulting agreement related to the Future Fuels transaction, a $250,000 debenture will convert to 5 million Hatchet Uranium shares if the sale closes by April 30, which would reduce ValOre's ownership to 38%.

ValOre's primary focus remains its Pedra Branca project in Brazil, which contains an inferred resource of 2.198 million ounces of platinum group elements plus gold.