Power Metal Resources plc has further extended the exclusivity period to form a Canada uranium-focused joint venture involving its entire portfolio of uranium licences.
INVESTOR
The company signed a binding agreement in June which was extended in August and is now moved to 27 September.
The parties have completed due diligence and preparation for the definitive legal transaction is now in “substantially final form”.
Power Metal said that certain administrative tasks relating to financing by the investor ACAM LP remain outstanding.
Special purpose vehicle UCAM Ltd, an affiliate of ACAM LP, has been formed as the intended investor in the transaction, the company added.