UraniumX Discovery Corp Closes Option Agreement with Gold'n Futures

Executive Summary

• UraniumX Discovery Corp. has closed its option agreement with Gold'n Futures Mineral Corp. to acquire a 100% interest in the NeoCore Uranium Property located in Saskatchewan's Athabasca Basin.
• In connection with the closing, UraniumX received 580,000 common shares of Gold'n, with additional earn-out shares, cash payments, and exploration expenditures required over a 36-month period.
• UraniumX will retain a 2.0% net smelter returns (NSR) royalty and act as the property operator during the option period, while the received Gold'n shares are subject to statutory and exchange-imposed resale restrictions.

Key Details

• Transaction Type: Closing of amended option agreement to acquire 100% interest in the NeoCore Uranium Property.
• Counterparty: Gold'n Futures Mineral Corp. (CSE:FUTR).
• Initial Consideration: 580,000 common shares of Gold'n issued to UraniumX upon closing.
• Earn-out Structure: Over a 36-month period, Gold'n must issue up to an aggregate of 11,580,000 additional common shares, make aggregate cash payments of $550,000, and incur $2,750,000 in exploration expenditures on the Property.
• Share Issuance Cap: Subsequent share tranches are limited to prevent UraniumX from holding more than 19% of Gold'n's issued and outstanding shares at the time of each issuance.
• Royalty Retention: UraniumX retains a 2.0% net smelter returns (NSR) royalty on the Property.
• Operator Role: UraniumX will act as the operator of the Property throughout the option period.
• Resale Restrictions: Gold'n shares received are subject to a 4-month-1-day statutory hold period and CSE resale restrictions; shares will not be freely tradeable until the later of (i) four months from issuance, or (ii) 10 days following the filing of a NI 43-101 technical report on the Property.
• Property Details: Six mineral claims covering approximately 13,012 hectares in the eastern Athabasca Basin, ~65 km southeast of the McArthur River mine. Benefits from nearby infrastructure (processing facilities, power, all-season roads). No mineral resource has been defined.
• Transaction Terms: Parties are arm's length; no finder's fees are payable.

Notable Quotes

• No direct quotes from company executives were included in the release.