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SKRR Exploration Inc. Amends Definitive Option Agreement with F3 Uranium Corp. for the Clearwater West Project, Saskatchewan
SKRR Exploration Inc. Amends Definitive Option Agreement with F3 Uranium Corp. for the Clearwater...
About this update from F3 Uranium Corp
[{"type":"text","content":"\n \n \n \n SKRR Exploration Inc. Amends Definitive Option Agreement with F3 Uranium Corp. for the Clearwater West Project, Saskatchewan\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Jan. 10, 2024\n \n \n /CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) (\"\n \n SKRR\n \n \" or the \"\n \n Company\n \n \") announces that it has entered into an amendment agreement (the \"\n \n Amendment Agreement\n \n \") dated\n \n January 8, 2024\n \n in respect of the option agreement (the \"\n \n Option Agreement\n \n \") dated\n \n May 25, 2023\n \n (the \"\n \n Effective Date\n \n \") with F3 Uranium Corp. (TSXV: FUU) (\"\n \n F3\n \n \") to acquire up to a 70% interest in the Clearwater West Property (see SKRR news release dated\n \n May 26, 2023\n \n ). The Clearwater West Property is comprised of 3 contiguous mineral claims totaling 11,786 hectares, located ~20km outside the edge and in the south-west area of the\n \n Athabasca\n \n Basin.\n \n \n \n \n \n \n \n \n \n The parties have agreed to amend the Option Agreement to extend the requirement for a minimum\n \n $1,000,000\n \n in work expenditures on the Clearwater West Property on or before the first year anniversary of the Effective Date until the second year anniversary of the Effective Date, such that cumulative work expenditures of a minimum of\n \n $3,000,000\n \n are required on or before the second year anniversary of the Effective Date under the Amendment Agreement. In consideration for the extension, SKRR is required to issue 605,000 common shares of SKRR to F3 upon the approval by the TSX Venture Exchange (the \"\n \n Exchange\n \n \") of the Amending Agreement and an additional 395,000 common shares of SKRR to F3 on or before\n \n June 1, 2024\n \n , unless subsequent to such share issuance, F3's partially diluted shareholdings in SKRR would exceed 10% of the issued and outstanding shares of SKRR, in which case SKRR shall pay\n \n $39,500\n \n in cash to F3 in lieu thereof on or before\n \n June 5, 2024\n \n . All com...