Globally diversified uranium company IsoEnergy has announced the sale of its Argentina-based uranium projects to Jaguar Uranium, as its enhances its focus on core jurisdictions including the US, Canada and Australia.
The deal includes the transfer of 100% of the shares of IsoEnergy’s subsidiary, which holds interests in the Laguna Salada Project in Chubut and the Huemul Project in Mendoza in Argentina.
Jaguar Uranium, a privately held company with a focus on the uranium sector in Latin America, plans to list on a North American stock exchange soon.
The acquisition’s terms involve Jaguar offering $10m of its Class A common shares at $5 per share, amounting to two million Jaguar Shares.
Additionally, Jaguar has committed to a 2% net smelter returns (NSR) royalty on all production from the Laguna Salada Project.
It also has the option to repurchase 1% of this royalty for $2.5m within seven years.
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Read More: IsoEnergy divests Argentine uranium projects to Jaguar