Canadian Uranium To Acquire Option On King South Property

Executive Summary

• Canadian Uranium Corp. entered into an option acquisition agreement to obtain Impact Uranium Group’s right to acquire the King South property in Saskatchewan.
• Consideration: issuance of 8,230,187 common shares at a deemed price of $0.45 per share, subject to a four‑month hold period.
• The company may exercise the underlying mineral property option by making staged cash payments and incurring specified exploration expenditures through 2028, with a potential 1% NSR royalty payable upon commercial production.

Key Details

• Consideration Shares: 8,230,187 common shares issued at $0.45 per share (≈ $3.70 M implied value).
• Hold Period: Shares subject to a four‑month hold period under CSE rules and company policies.
• Option Exercise Payments & Expenditures:
• $200,000 cash due ≤ Mar 13 2026
• $350,000 cash due ≤ Mar 13 2027
• $500,000 cash due ≤ Mar 13 2028
• $100,000 exploration expenditures by Jul 30 2026
• Additional $500,000 exploration expenditures by Mar 13 2027
• Additional $1,400,000 exploration expenditures by Mar 13 2028
• Royalty Terms: Upon commercial production, a 1% net smelter return royalty will be payable to the optionor; the company may repurchase this royalty for $1.5 M.
• Closing Conditions: Requires receipt of all necessary consents, CSE acceptance, and shareholder approval by Impact Uranium Group, plus customary transaction conditions.
• Property Overview – King South:
• Located in Saskatchewan’s Western Mineral Tenure Zone (WMTZ) within the eastern Athabasca region.
• Size: 10,575 hectares.
• Proximity to major uranium deposits (Cigar Lake, McArthur River, etc.) and adjacent to exploration ground held by Fission 3.0 and Cameco.
• Strategic Rationale: Expands Canadian Uranium’s portfolio in the world‑class Athabasca Basin, aligning with its strategy of acquiring high‑potential uranium assets and advancing them toward production.

Notable Quotes

(No direct quotes were provided in the release.)