CALGARY, AB, Jan. 27, 2021 /CNW/ - Uravan Minerals Inc. (TSXV:
UVN) ("Uravan") announces the sale of Uravan's 2,500,000
common shares of Fathom Minerals Ltd.("Fathom"), a private
corporation, priced at $0.05 per
share (the "Fathom Shares). The sale of Uravan's Fathom Shares was
achieved between Uravan and several private investors because of
the reorganization of Fathom into the capital of Fathom Nickel
Inc.("Nickel").
The Fathom Shares were originally acquired by Uravan as a result
of the sale, in 2015, of Uravan's Rottenstone Property
("Rottenstone") to Fathom. In addition to Uravan receiving the
Fathom Shares as compensation for the sale of Rottenstone, Fathom
granted and reserved to the benefit of Uravan a 2% Net Smelter
Return ("NSR") royalty on the mineral claims making up Rottenstone.
Notwithstanding the recent sale of Uravan's Fathom Shares and after
the reorganization of Fathom into the capital of Nickel, Uravan
still retains the 2% NSR on Rottenstone.
On another note, Uravan announces the recent resignation of
Alnoor Nathoo as a member of the
Board of Directors of Uravan. Mr. Nathoo has been a valued member
of the Board and a key individual supporting Uravan in its pursuit
of other business opportunities.
Uravan will continue to pursue and evaluate other businesses and
strategic opportunities and will make further announcements with
respect to these efforts when meaningful.
Cautionary Statement
This press release may contain
forward looking statements including those describing Uravan's
plans and the expectations of management that a stated result or
condition will occur. Any statement addressing future events or
conditions necessarily involves inherent risk and uncertainty.
Actual results can differ materially from those anticipated by
management at the time of writing due to many factors, much of
which are beyond the control of Uravan and its management. This
news release contains forward-looking statements
pertaining. Readers are cautioned that the foregoing list of
risk factors should not be construed as exhaustive. These
statements speak only as of the date of this release or as of the
date specified in the documents accompanying this release. The
Corporation undertakes no obligation to publicly update or revise
any forward-looking statements except as expressly required by
applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Uravan Minerals Inc.