Uranium One extends option to buy assets, USECC says
Wyoming-based U.S. Energy Corp. and Crested Corp., doing business as USECC, said Monday that sxr Uranium One Inc. has exercised its right to extend by three months its option to buy uranium assets from the companies.
Uranium One, based in Toronto and with offices in South Africa and Australia, has agreed to negotiate the purchase of the Shootaring Canyon Uranium Mill near Ticaboo, Garfield County; USECC’s participating interest in the Sheep Mountain uranium properties in Wyoming; and various mineral holdings in Colorado, Utah and Arizona.
Subject to the execution of definitive acquisition documentation, Uranium One will deliver to the companies at closing about 6.6 million shares of Uranium One common stock, currently valued at about $81 million. It will pay $40 million more in cash if the assets meet certain production criteria.