Consolidated Uranium Announces Acquisition Of Virginia Energy Resources, Securing The Largest Undeveloped Uranium Deposit In The U.S.
Acquiring Company
Labrador Uranium Inc.
Acquired Company
Virginia Energy
TorontoEnergyNatural ResourcesEnergyRenewable EnergyBiomass EnergyDescription
Consolidated Uranium Inc. (“CUR”, “Consolidated Uranium”) (TSXV: CUR) (OTCQB: CURUF) and Virginia Energy Resources Inc. (TSXV: VUI) (“Virginia Energy”) are pleased to announce that they have entered into a definitive agreement (the “Arrangement Agreement”) pursuant to which Consolidated Uranium will acquire all of the issued and outstanding common shares of Virginia Energy (the “Virginia Energy Shares”) by way of a court-approved plan of arrangement (the “Transaction”). Virginia Energy owns 100% of the Coles Hill Uranium Project (“Coles Hill” or the “Project”) located in south central Virginia, United States, which is the largest undeveloped uranium deposit in the U.S. and among the largest projects by total uranium resources in the world. The Project is held through a subsidiary of Virginia Energy, Virginia Uranium, Inc., which controls the mineral rights, certain surface rights, and leasehold development and operating rights at Coles Hill.
Quick answer
Labrador Uranium Inc. is acquiring Virginia Energy, announced November 15, 2022. Labrador Uranium Inc. is based in Toronto, Ontario, Canada.
- How much did Labrador Uranium Inc. pay for Virginia Energy?
- The deal value was not disclosed.
- What does Labrador Uranium Inc. do?
- Consolidated Uranium Inc. (TSXV: CUR) (OTCQB: CURUF) was created in early 2020 to capitalize on an anticipated uranium market resurgence using the proven model of diversified project consolidation.
- Where are Labrador Uranium Inc. and Virginia Energy based?
- Labrador Uranium Inc. is based in Toronto, Ontario, Canada.
Source: Fundz verified event record.
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Frequently asked
Who acquired Virginia Energy?
Virginia Energy was acquired by Labrador Uranium Inc., based in Toronto. The deal was reported on November 15, 2022. Consolidated Uranium Inc. (TSXV: CUR) (OTCQB: CURUF) was created in early 2020 to capitalize on an anticipated uranium market resurgence using the proven model of diversified project consolidation. Labrador Uranium Inc. is privately held and operates in Energy.
When did Labrador Uranium Inc. acquire Virginia Energy?
Labrador Uranium Inc.'s acquisition of Virginia Energy was reported on November 15, 2022. Consolidated Uranium Inc. (“CUR”, “Consolidated Uranium”) (TSXV: CUR) (OTCQB: CURUF) and Virginia Energy Resources Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Virginia Energy do?
Virginia Energy Resources Inc. (TSXV: VUI) is a uranium development and exploration company. Virginia Energy holds a 100% controlling interest in the Coles Hill uranium project located in south central Virginia, USA. It is privately held, operating in Energy.
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