On August 19, 2021, Consolidated Uranium Inc. completed the acquisition of a 100% undivided interest in the high-grade Matoush Uranium Project located in the Province of Quebec, Canada.
Pursuant to the transaction, Consolidated Uranium acquired all of the shares of a special purpose vehicle that holds a 100% undivided interest in the Matoush Project in exchange for consideration comprised of $3.5 million in cash and 2,000,000 common shares of Consolidated Uranium. A further deferred payment, comprised of $1.5 million in cash and such number of common shares of Consolidated Uranium having a value of $2 million, is due on or before the six-month anniversary of closing of the transaction.
Cassels acted for Consolidated Uranium.