sur UraniumX Discovery Corp. (CVE:STMN)
UraniumX and Pond Technologies Ink LOI for Zoo Bay Uranium Project
UraniumX Discovery Corp. has signed a letter of intent with Pond Technologies Holdings Inc. to form an option agreement for the Zoo Bay Uranium Project in Saskatchewan's Athabasca Basin. The potential deal includes a "change of business" and RTO conforming to TSX Venture Exchange policies. The agreement would grant Pond the exclusive option to acquire full interest in the project, subject to definitive terms.
The agreement requires Pond to issue 16 million common shares, pay $350,000 over three years, and invest $4.5 million in exploration. This LOI supports UraniumX's strategy to extract and maximize value from its mineral portfolio. If successful, it would advance development of the 19,850-hectare Zoo Bay site, known for historical uranium-thorium occurrences.
Completion of this transaction hinges on several approvals and customary conditions, with no guarantees it will proceed as planned.
R. E.
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