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     117  0 Kommentare Saville Announces Asset Acquisition

    NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESSWIRE / June 21, 2024 / Saville Resources Inc. (TSXV:SRE)(FRA:S0J) (the "Company") is pleased to announce that it has entered into …

    NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

    VANCOUVER, BC / ACCESSWIRE / June 21, 2024 / Saville Resources Inc. (TSXV:SRE)(FRA:S0J) (the "Company") is pleased to announce that it has entered into a securities exchange agreement (the "Securities Exchange Agreement") dated June 21, 2024 with 1398827 B.C. Ltd., ("PrivCo") and the securityholders of PrivCo to acquire all of the issued and outstanding securities of PrivCo in exchange for common shares of the Company (the "Common Shares") issued on a one-for-one basis (the "Transaction").

    The Company intends to assume the exploration of PrivCo's flagship mineral resource asset, the Hornby Property (the "Property") located in Nunavut Territory, Canada following the closing of the Transaction.

    About PrivCo and the Hornby Property

    PrivCo is a private company incorporated pursuant to the laws of British Columbia and headquartered in Vancouver, British Columbia.

    The Property is located in the Hornby Basin, Nunavut Territory with mineral licences located directly adjacent to IsoEnergy's Mountain Lake Deposit that contains a historical mineral resource of 1.6M Tonnes of 0.23% U3O8 (8.2Mlbs of Uranium) ("Mountain Lake Property Nunavut" dated February 15, 2005 reported by Triex Mineral Corporation). The Property is large, consisting of 51 mineral licences, encompassing a total land area of ~72,048ha (~72km2).

    Transaction Terms

    Pursuant to the Securities Exchange Agreement, the Company has agreed to issue 5,400,000 Common Shares to the shareholders of PrivCo on closing. In addition, the 2,700,000 outstanding warrants of PrivCo, which are exercisable at $0.075 until May 27, 2025, and 400,000 options of PrivCo exercisable at a price of $0.20 until June 1, 2026 will be replaced by warrants and options (respectively) of the Company on the same terms.

    Upon closing of the Transaction, PrivCo will become a wholly-owned subsidiary of the Company. The Company will add the Property to its existing Property portfolio, and further assess the exploration and development potential thereof. Following the closing of the Transaction, the Company may also target other mineral exploration opportunities if it determines such targets have sufficient geological or economic merit and if the Company has adequate financial resources to complete such acquisitions.

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    Saville Announces Asset Acquisition NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESSWIRE / June 21, 2024 / Saville Resources Inc. (TSXV:SRE)(FRA:S0J) (the "Company") is pleased to announce that it has entered into …