Urano Energy to Acquire Advanced Uranium Properties in Utah and Colorado

News provided by

Nov 27, 2024, 07:00 ET

CSE: UE
OTCQB: UECXF
www.uranoenergy.com

VANCOUVER, BC, Nov. 27, 2024 /PRNewswire/ - Urano Energy Corp, (CSE: UE) (OTCQB: UECXF) (the "Company" or "Urano Energy") announced today that it has entered into purchase agreements to acquire mineral claims and mining leases located in Utah and Colorado, covering various uranium properties that are prospective for uranium mining in consideration for an aggregate of US$5,865,000 in cash and US$4,800,000 in shares of the Company, payable in installments over five years. The shares will be issued at a value equal to the 15-day volume weighted average price as at the date the payment is due. The vendors will retain a 1% gross royalty in respect of all uranium produced from the mineral claims and a net smelter returns royalty equal to 10% on all vanadium produced on the property. All vendors are at arm's length to the Company.

The Company will issue a further news release providing information on the uranium properties upon closing, anticipated to occur on or about December 2, 2024.

About Urano Energy Corp.
Urano Energy is a mineral exploration company focused on conventional uranium assets in the United States. The Company also holds a portfolio of gold and copper projects in Canada.

The securities referenced herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties and can be identified by the use of forward-looking terminology such as "expected", "will be", "anticipated", "may" or variations of such words and phrases or statements that certain actions, events or results "will" occur. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

SOURCE Urano Energy Corp.