Jan 31 2015
Western Uranium Corporation ("Western Uranium") is pleased to announce that on January 29, 2015, and as announced today in Australia, it entered into a Letter of Intent with Black Range Minerals Limited ("Black Range"), an Australian company listed on the Australian Securities Exchange, proposing a combination of the two companies.
The Letter of Intent confirms Western Uranium's desire to acquire all of the issued shares of Black Range (the "Transaction"). In the Transaction, Black Range shareholders would receive one (1) new Western Uranium share for every 750 Black Range shares held. The Letter of Intent is non-binding and the Transaction remains subject to the parties conducting due diligence with respect to each other, and reaching agreement on the detailed terms for the Transaction and negotiating definitive agreements for the Transaction. The Letter of Intent also requires Black Range to abide by a thirty-day standstill and exclusivity period, and provides for a break fee payable to Western Uranium if a superior proposal for Black Range materializes and is accepted. For additional details regarding the Letter of Intent and potential Transaction, please consult the news release issued by Black Range on January 30, 2015, a copy of which can be found at www.blackrangeminerals.com.
About Western Uranium Corporation
Western Uranium Corporation is a Canadian-based uranium exploration company focused on resources in the western Colorado Plateau in the United States of America.
Source: http://www.homelanduranium.com/