Business
Canadian Uranium Acquires Option On King South Property
Vancouver, British Columbia – TheNewswire - March 17, 2026 - Canadian Uranium Corp. (CSE: CANU) (the “Company”) is pleased to announce that, further to its news
About this update from Canadian Uranium Corp
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - March 17, 2026 - Canadian Uranium Corp. (CSE: CANU) (the “Company”) is pleased to announce that, further to its news releases of January 28 and March 11, 2026, the Company has closed its acquisition (the “Acquisition”) of Impact Uranium Group Ltd. (“Impact”), which holds an option to acquire a 100% interest (the “Option”) in the King South property in Saskatchewan (the “Property”). In consideration for the Acquisition, the Company issued to the former shareholders of Impact an aggregate of 8,255,187 common shares in the capital of the Company (the “Consideration Shares”) at a deemed price of $0.45 per Consideration Share. As a result of the Acquisition, Impact operates as a wholly-owned subsidiary of the Company. Impact holds its Option to acquire the Property pursuant to an option agreement dated December 10, 2024, with Doctors Investment Group Ltd. (the “Optionor”), as amended March 13, 2025, January 28, 2026, and March 11, 2026 (the “Option Agreement”). Impact has paid an aggregate of $210,000 ($200,000 on May 1, 2024, and $10,000 on March 11, 2025) and incurred nil exploration expenditures in respect of the Option, and may acquire a 100% interest in the Property, pursuant to the Option Agreement, by: (i) paying to the Optionor on or before April 17, 2026, an additional $200,000; (ii) paying to the Optionor on or before March 13, 2027, an additional $350,000; (iii) paying to the Optionor on or before March 13, 2028, an additional $500,000; (iv) incurring $100,000 in exploration expenditures by July 30th, 2026; (v) incurring $500,000 in exploration expenditures on or before March 13, 2027; and (vi) incurring $1,400,000 in exploration expenditures on or before March 13, 2028. The Company intends to file a technical report in respect of the Property prepared and certified by a qualified person in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (the “Technical Report”). In accordance with the requirements of applicable securities laws and the conditions of the Canadian Securities Exchange for approval of the Acquisition, all securities issued pursuant to the Acquisition are subject to restrictions on resale until the later of (a) four months from the date of issuance, (b) ten (10) trading days following the filing of the Technical Report, and (c...