Due to close on or about 10 October 2013, the purchase is for combined cash and the restricted common stock of NX Capital.
Under the terms of the agreement, Montrose Energy will own, develop and operate the property, as an exploratory mine.
NX Capital president Jeff Krupka said that the uranium mining property procurement is yet another step to the development of the company’s business plan and operations.
"We are excited to announce the identification of and the pending purchase of a mining property," Krupka added.
Colorado-based NX Capital aims to develop operations in the mining and energy industry in the western US.
