Joint Press Release of Future Fuels Inc. and ValOre Metals Corp. - Future Fuels Inc. Enters Into Agreement to Acquire Hatchet Uranium Corp.
ValOre pivots to powerhouse status by spinning out uranium assets while doubling down on Brazilian PGE-Gold district
The most recent news (February 26, 2026) announces a definitive agreement where Future Fuels Inc. will acquire Hatchet Uranium Corp. (HUC) via a three-cornered amalgamation. ValOre Metals Corp., a major shareholder of HUC, will become a "significant shareholder" of Future Fuels Inc. as a result. This follows a period of restructuring for ValOre, including the appointment of a new CEO (Nick Smart) in late 2025 and a failed merger with South Atlantic Gold in mid-2025. The transaction effectively monetizes ValOre’s uranium interests in the Athabasca Basin, allowing the company to focus on its flagship Pedra Branca PGE project in Brazil.
- Strategic Focus: This is a material positive. ValOre has struggled with a "split personality" between Canadian uranium and Brazilian PGEs. By converting the HUC interest into shares of a dedicated uranium vehicle (Future Fuels), ValOre cleans up its balance sheet and narrative.
- Asset Monetization: ValOre will hold a significant equity stake in Future Fuels. This provides a liquid (or semi-liquid) source of capital that can be used to fund the Pedra Branca PEA without immediate dilutive private placements at the ValOre level.
- Operational De-risking: The news follows the February 9, 2026, announcement of Phase 2 metallurgical testwork. The exit from direct uranium management allows the new CEO to focus entirely on the 2.2 Moz PGE resource in Brazil.
- Comparison to History: In June 2025, ValOre failed to merge with South Atlantic Gold due to shareholder rejection. This new deal is cleaner as it involves an asset sale/spin-out rather than a complex corporate amalgamation that requires ValOre to issue massive amounts of its own paper for a secondary project.
ValOre’s flagship is the Pedra Branca PGE Project in Ceará State, Brazil. - Resource: 2.2 million ounces of 2PGE+Au (Palladium, Platinum, Gold) grading 1.08 g/t. - Status: Inferred resource stage, currently undergoing Phase 2 metallurgical testing to determine if bioleaching can unlock the refractory weathered material. - Infrastructure: 100% owned, 51,000+ hectares, with recent expansion efforts to create a 100,000-hectare district.