Under the terms of the agreement, Zadar Ventures will issue 330,000 common shares including 160,000 to Canterra and 170,000 to African Oil to purchase 100% interest in the Highrock and Riverlake uranium projects in Canada.
Additionally, Canterra will retain a 2% NSR on the Riverlake and Highrock projects, with a buyback of 1% for $1m.
The Riverlake and Highrock properties are located at the southern margin of the Athabasca Basin, immediately south of the Key Lake mine, and 570km north of Saskatoon, Canada.
The Riverlake property comprises one claim covering a total area of 5,583h while the Highrock property involves one claim covering a total area of 5,831h.
