On completion of the transaction, Titan Uranium share holders will receive 0.68 common shares of EFR, which is equal to about 42% of the issued and outstanding common shares of EFR.

Titan Uranium’s major asset includes the Sheep Mountain uranium mine in Wyoming, which has a compliant indicated resource of 13,841,000 tons at an average grade of 0.110% eU3O8.

Titan Uranium has also significant interests in uranium exploration projects in Utah, Wyoming, Arizona and Saskatchewan.

Pursuant to the LOI, both the firms have also entered into a definitive agreement with respect to the transaction.

 

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