Mega Uranium Announces Ben Lomond Option Exercise

Provided By Globe Newswire

Last update: Jun 15, 2022

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

TORONTO, June 15, 2022 (GLOBE NEWSWIRE) -- Mega Uranium Ltd. (MGA: TSX) announces that Consolidated Uranium Inc. (“CUR”) has exercised its option to purchase Mega’s Ben Lomond uranium property located in Queensland, Australia (the “Property”). In accordance with the terms of the option, CUR has elected to pay the $2.5 million purchase price for the Property by the issuance to Mega on closing of 1,104,240 common shares of CUR, at a deemed price of $2.264 per share, being the volume weighted average trading price of the shares for the five trading days ended two business days prior to the option exercise.