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GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
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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