Stallion Gold is a mineral exploration company focused on the exploration of precious metals and critical minerals
Geological Map of Canada. (Credit: Qyd/Wikipedia)
Stallion Gold Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: SLLGF) is pleased to announce it has signed a share purchase agreement dated January 5, 2022 (the “Definitive Agreement”) among the Company, U92 Exploration Limited. (“U92”) and the shareholders of U92 to acquire all of the issued and outstanding securities of U92 (the “Transaction”).
U92 is a privately held Uranium company with strategic claims in the Western Athabasca Basin, home to some of the world’s largest high grade uranium discoveries. The claim packages southern boundary is above Fission 3.0’s PLN Project containing the recent discovery of ultra-high grade U3O8, while the northern end of the project is just east of the Shea Creek deposit held by the partnership of UEX and Orano. The U92 Saskatchewan projects includes 6 mineral claims totaling 29,273 hectares shown below in Figure 1.
Stallion Gold Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: SLLGF) is pleased to announce it has signed a share purchase agreement dated January 5, 2022 (the “Definitive Agreement”) among the Company, U92 Exploration Limited. (“U92”) and the shareholders of U92 to acquire all of the issued and outstanding securities of U92 (the “Transaction”).
U92 is a privately held Uranium company with strategic claims in the Western Athabasca Basin, home to some of the world’s largest high grade uranium discoveries. The claim packages southern boundary is above Fission 3.0’s PLN Project containing the recent discovery of ultra-high grade U3O8, while the northern end of the project is just east of the Shea Creek deposit held by the partnership of UEX and Orano. The U92 Saskatchewan projects includes 6 mineral claims totaling 29,273 hectares shown below in Figure 1.
In consideration for the Transaction and pursuant to the terms of the Definitive Agreement, and on closing thereof (“Closing”), the Company will pay the shareholders of U92 the sum of $300,000 and the Company will issue an aggregate of 3,000,000 common shares in the capital of the Company at a deemed price of $0.10 per share (the “Consideration Shares”) pro rata to the holders of the U92 common shares. The Consideration Shares will be subject to a restriction of resale for four months and one day from the date of Closing.
Closing of the Transaction remains subject to certain closing conditions, including, obtaining all necessary approvals, including, approval of the TSX-V. Closing of the Transaction will take place following TSX-V Approval. There can be no assurance that the Transaction will be completed as proposed or at all.
None of the securities to be issued pursuant to the Transaction have been or will be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issued pursuant to the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Rule 506(b) of Regulation D and/or Section 4(a)(2) of the U.S. Securities Act and applicable exemptions under state securities laws. In addition, the securities issued under an exemption from the registration requirements of the U.S. Securities Act wilI be “restricted securities” as defined under Rule 144(a)(3) of the U.S. Securities Act and will contain the appropriate restrictive legend as required under the U.S. Securities Act.
Source: Company Press Release