" All three projects are located in the heart of the world-renowned
Pursuant to the Agreement, Glorious shall acquire a 100% interest in the Property for the following consideration to the Company:
- concurrently with the signing the Agreement, a cash payment of
$100,000.00 (the “Deposit”), which one half of the Deposit ($50,000 ) will be refundable by the Company to Glorious should Glorious does not obtain approval from the Canadian Securities Exchange (“CSE”); - on the date of the Closing (the “Closing Date”), a cash payment of
$300,000 ; - an aggregate of 2,500,000 common shares of Glorious (each, a “Share”) to be issued to the Company as follows:
- 500,000 Shares on the date which is six (6) months following the Closing Date,
- 500,000 Shares on the date which is twelve (12) months following the Closing Date,
- 500,000 Shares on the date which is eighteen (18) months following the Closing Date, and
- 1,000,000 Shares on the date which is twenty-four (24) months following the Closing Date.
The Company shall retain a royalty of three percent (3%) of net smelter returns from minerals mined and removed from the Property, of which Glorious may purchase up to one and one-half percent (1.5%) at any time prior to commercial production on the Property as follows:
The Company and Glorious have also entered into an operating agreement (the “Operating Agreement”) pursuant to which Stallion will conduct an agreed upon exploration program on one or more of the Properties for an operating fee.
Figure 1 – Stallion Uranium’s Eastern Basin Projects
The projects are located in the
Additionally, the Company has engaged
Qualifying Statement:
The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by
About Stallion Uranium
Stallion Uranium is working to Fuel the Future with Uranium through the exploration of over 3,000 sq/km in the
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.
Stallion offers optionality with two gold projects in
For more information visit stallionuranium.com or contact:
Chief Executive Officer
778-686-0973
info@stallionuranium.com
Neither the
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dd69f2da-b7be-4c48-935a-975f0b292d40
Figure 1
Stallion Uranium’s Eastern Basin Projects
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