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2016-03-07 07:37 ET - News Release Mr. Dusty Nicol reports EUROPEAN URANIUM RECEIVES FIRST C$1.5M OF C$2.0M FUNDRAISING IN ESCROW European Uranium Resources Ltd. announced on March 1, 2016, that it had entered into a share purchase agreement to acquire an initial interest of 60 per cent in the Unkur copper-silver project located in eastern Russia. In connection with the Unkur acquisition, EUU intends to raise $2.0-million through a private placement of common shares and consolidate its shares on an up to 10:1 basis. The company has entered into subscription agreements with cornerstone investors for $1.5-million of the planned private placement and now confirms that the $1.5-million has been received by EUU and is being held in escrow pending closing. Following the closing of the Unkur acquisition and ancillary transactions, EUU intends to change its name to Azarga Metals Corp. One of the investors is subscribing for $1.0-million of the private placement, which at 23.3 per cent postclosing all transactions will create a new control person, and, accordingly, the company has filed a notice to call an annual general and special shareholder meeting on April 29, 2016, to approve the change of control. The parties' obligations to complete the various transactions are subject to exchange approval of all elements of these transactions on terms acceptable to the parties and settlement of formal documentation: the closing of all of the transactions is each conditional on the closing of the other. Pro forma share structure The table sets out the indicative pro forma share structure for the company after all of the transactions are completed. |
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| aus der Diskussion: | European Uranium Resources Ltd. ehem.TOURNIGAN ENERGY |
| Autor (Datum des Eintrages): | ivanbaerlin (10.03.16 12:22:08) |
| Beitrag: | 42,298 von 42,309 (ID:51948585) |
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