UraniumX agrees to sell Zoo Bay uranium asset to Pond for 17,000,000 shares plus $350,000 and $4.5 million exploration spend
URA•Royalty and reversion provisions
UraniumX retains a 2% net smelter returns royalty; Pond can buy back 1% for CAD 1.5 million.
A repurchase right allows the asset to revert for CAD 1 if deferred consideration or exploration commitments are not met.
Deal terms for Zoo Bay uranium property
UraniumX Discovery entered a share exchange for Pond to acquire its subsidiary holding the Zoo Bay Uranium Property in Saskatchewan’s Athabasca Basin.
Consideration totals 17,000,000 post-consolidation Pond shares, CAD 350,000 cash, and CAD 4.5 million partner-funded exploration over 36 months.
CAD 50,000 cash and 7,000,000 shares are due at closing; the remaining 10,000,000 shares, CAD 300,000 cash, and exploration spending are deferred.
