According to the agreement, Cameco has subscribed for new ordinary shares of UrAmerica, at a price of $ 0.8365 per UrAmerica share.
Both firms have created a joint technical committee (JTC) to manage and approve the use of proceeds from Cameco’s subscription for UrAmerica’s exploration program.
The JTC has approved an initial 12-month drilling program of 30,000m, focused on seven drill targets, surrounding and close to the National Commission of Atomic Energy’s Cerro Solo deposit.
The transaction will also give Cameco the exclusive right to acquire 70% of each deposit discovered by UrAmerica, within all of the mining rights currently operated by UrAmerica in the San Jorge Basin of Argentina.
The remaining 30% of the deposits will be retained by UrAmerica.
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