Terra Clean signs deals to buy Utah uranium claims

Executive Summary

• Terra Clean Energy Corp. has entered into definitive agreements to acquire up to a 100% interest in the Wheel Anne and Green Vein Mesa uranium claims located in Emery County, Utah, USA.
• The acquisition requires the company to make specific cash payments, issue common shares, and incur exploration expenditures to earn its interest in the properties.
• The transaction is subject to regulatory approvals, including that of the Canadian Securities Exchange (CSE), and issued securities are subject to a standard hold period.

Key Details

• Assets Acquired: Up to 100% interest in the Wheel Anne claims and the Green Vein Mesa claims.
• Location: Emery County, Utah, United States.
• Counterparties: Arm's-length parties.
• Earn-In Requirements: The company must make cash payments, issue common shares, and incur exploration expenditures on the respective claims as detailed in the attached table (specific figures referenced as "attached table" are not explicitly listed in the text body but the structure is defined).
• Regulatory Conditions: Subject to receipt of all regulatory approvals, specifically including the approval of the Canadian Securities Exchange.
• Securities Terms: All securities issued are subject to a four-month-plus-one-day hold period from the date of issuance.
• Management Comment: CEO Greg Cameron stated the quick execution demonstrates commitment to the assets and the company's portfolio of low-risk uranium assets in world-renowned basins. The team plans to be on the ground in Utah in the coming weeks.

Notable Quotes

• "The quick execution of the agreements shows the company's commitment and excitement to these assets and to our already significant portfolio of low-risk uranium assets in world-renowned uranium basins," stated Greg Cameron, chief executive officer of Terra. "Our plan is to have our team on the ground in Utah in the coming weeks working closely with our local partner."

Additional Administrative Details (Non-Material)

• Marketing Agreements:
  • Engaged Green Crescent Capital (GCC) for marketing and digital content creation for a one-time fee of $5,000 USD for a one-month term.
  • Engaged OTCWagon (OTCW) for a 38-day market awareness program for a one-time fee of $7,500 USD.
  • No performance factors, stock options, or other compensation were included in these marketing engagements.