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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
M&A / Property

Myriad Uranium to Sell Red Basin Uranium Project for US$2.5 Million, Retain 10% Free Carried Interest, and Enter into Strategic Alliance with a New Venture Backed by Leading U.S. Technologists

By The Northwire Desk — AI Analysis Mar 18, 2026 · 05:31 M · 0.5 Myriad Uranium
M · Price

Executive Summary

  • Myriad Uranium Corp. entered into an Asset Purchase Agreement to sell its 100% interest in the Red Basin Uranium Project to Subatomic Red Basin, LLC for US$2.5 million cash, with closing expected on or before April 17, 2026.
  • The company will retain a 10% free‑carried interest in the project and will form a strategic alliance with Subatomic to pursue additional uranium opportunities.
  • The transaction represents an over 6× return on the original C$525,000 investment made approximately one year ago.

Key Details

  • Transaction Price: US$2,500,000 cash payable at closing.
  • Retained Interest: Myriad will keep a 10% free‑carried interest in the Red Basin Uranium Project.
  • Strategic Alliance: Both parties will cooperate on exploration and development of uranium projects beyond Red Basin.
  • Return on Capital: Original acquisition cost was C$525,000; sale price yields >6× return (excluding carried interest).
  • Closing Timeline: Expected on or before April 17, 2026, subject to due diligence, execution of the carried‑interest agreement, and finalization of the strategic alliance agreement.
  • CEO Comments – Myriad: Emphasized the accretive nature of the deal for shareholders and the broader partnership benefits.
  • CEO Comments – Subatomic: Highlighted the significance of the partnership for U.S. uranium production and growing demand for nuclear power.

Notable Quotes

  • “Myriad is thrilled to partner with Subatomic in our Red Basin project, producing a wonderful return on capital that is highly accretive for our shareholders…” — Thomas Lamb, President & CEO, Myriad Uranium Corp.
  • “We are thrilled to partner with Tom and the Myriad board using a new model oriented around partnership and American uranium production… This partnership … is a defining milestone for the company.” — Timothy Chilleri, CEO, Subatomic Industries Corporation
Read the original news release →

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