Bedford Metals Announces Successful Closing of Acquisition of Cable Lake Uranium Project, Expanding Ubiquity Lake Project

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[{"type":"text","content":"Bedford Metals Announces Successful Closing of Acquisition of Cable Lake Uranium Project, Expanding Ubiquity Lake Project\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n March 7th,\n \n\n 2025\n \n —\n \n\n\n\n Bedford Metals Corp.\n \n\n\n -\n \n\n TheNewswire -\n \n\n (\n \n\n TSX-V: BFM, FWB: O8D, ISIN:\nCA0762301012\n \n\n ) (the “\n \n\n Company\n \n\n ” or\n“\n \n\n\n\n\n\n Bedford\n \n\n ”) is pleased to announce the\nsuccessful closing of the acquisition (the “\n \n\n Acquisition\n \n\n ”) of\nNorthern Lights Exploration Corp. (“\n \n\n NLE\n \n\n ”).  NLE is the\nholder of the Cable Lake Uranium Project, and with this Acquisition,\nthe Company now controls an aggregate of 13,092 hectares of\nprospective ground in the highly promising Athabasca Basin,\nSaskatchewan.\n \n\n\n\n The Cable Lake property, covering an area of 8,056\nhectares, adjoins the Company’s Sheppard and Ubiquity Lake claims to\nthe north. The Cable Lake claims host over 22 kilometers of\nelectromagnetic (EM) anomalies situated within relative magnetic\nlows— a geophysical signature commonly associated with uranium\ndeposits in the Athabasca Basin. Notably, a 2007 GEOTEM (airborne\nmagnetic and electromagnetic) survey conducted by Fugro identified an\narea of interest (ROI 5) just north of Warr Lake, where Bedford’s\n2024 exploration program uncovered several radioactive\nanomalies.\n \n\n\n\n Pursuant to the terms of the Acquisition, Bedford\nacquired all of the outstanding share capital of NLE in consideration\nfor the issuance of 1,000,000 common shares of Bedford to the sole\nshareholder of NLE (the “\n \n\n Vendor\n \n\n ”).  Additionally, the Vendor has\nbeen granted the right to acquire 2,500,000 common shares for total\nconsideration of $1.00, contingent upon Bedford successfully\nrecovering a radioactive sample from the Cable Lake claims equal to or\ngreater than 0.10% U₃O₈ prior to December 31, 2027. The Company is\nat arm's length from the Vendor and NLE, and no finders' fees or\ncommissions were payable in connection with the Acquisition.\n \n\n\n\n Peter Born, President of Bedford, commented, “We are\nthrilled to have successfully closed the acquisition ...

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