Brixton Metals teams up with Eldorado on Atlin Goldfields project
Located 9 km east of the town of Atlin, British Columbia, the property comprises a 579-square-kilometre claim group.
Hathor Exploration has acquired Terra Ventures in an all-stock deal valued at approximately $24 million.
Under the deal announced Monday, Terra shareholders will receive 20 cents of a Hathor common share for each common share held, which represents a 16% premium on Terra’s April 15 closing share price of 33 cents.
In a news release, the companies said the deal will consolidate ownership in the Roughrider uranium deposit and the Russell Lake exploration project, both of which are located in Saskatchewan’s Athabasca Basin. Terra also has an option on a 95% interest and 2% net smelter royalty (NSR) on Denison Mines and Cameco’s Phoenix property currently being explored by Denison.
The deal must be approved by two-thirds of Terra shareholders at a meeting expected to take place in June. It is also subject to approvals by the BC Supreme Court and regulatory bodies. A break fee of $625,000 applies.
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