Business
Exercise of Dunn Option Agreement
Exercise of Dunn Option Agreement.
About this update from Fulcrum Metals Plc
[{"type":"text","content":"\n\nFulcrum Metals plc / EPIC: FMET / Market: AIM / Sector: Mining\n \n \n1 July 2024\n \n \nFulcrum Metals plc\n(\"Fulcrum\" or the \"Company\" or the \"Group\")\n \nExercise of Dunn Option Agreement\nUpdate on the Sale of Saskatchewan Uranium Projects\n \nFulcrum Metals plc (LON: FMET), a company focused on mineral exploration and development in Canada, announces that its wholly owned subsidiary Fulcrum Metals (Canada) Ltd (\"FMCL\"), has exercised an agreement (the \"Dunn Option\"), to acquire a 100% interest in the Charlot-Neely Lake, South Pendleton and Snowbird uranium projects (the \"Dunn Option Uranium Projects\") located in Saskatchewan, Canada. The Dunn Option Uranium Projects cover 11,481 hectares and details were announced by the Company on 27 November 2023.\n \nThe Dunn Option Uranium Projects were owned by Gary Clayton Dunn and Jonathan Stewart Dunn (the \"Dunn Option Vendors\"), who granted the Dunn Option to Fulcrum, thereby giving Fulcrum the option to acquire a 100% interest in the Dunn Option Uranium Projects. On receipt of the Dunn Option, Fulcrum paid a cash consideration to the Dunn Option Vendors of CA$5,000 and upon exercising the Dunn Option on 28 June 2024, Fulcrum has paid the Dunn Option Vendors a further cash consideration of CA$60,000. Following the exercise of the Dunn Option, the Dunn Option Uranium Projects have been transferred to FMCL. \n \nThis takes the Company one step closer to a definitive agreement with Terra Balcanica Resources Corp. over the sale of all of its uranium projects totalling over 59,000 hectares and comprising: Charlot-Neely Lake, Fontaine Lake, Snowbird and South Pendleton. The Company anticipates the completion of the definitive agreement imminently and will update the market in due course.\n \nFor further information please visit https://fulcrummetals.com/ or contact:\n\n\n\n\nFulcrum Metals PLC\n\n\n\n\n\n\n\nRyan Mee (Chief Executive Officer)\n\n\nVia St Brides Partners Limited\n\n\n\n\n\n\n\n\n\n\n\n\nAllenby Capital Limited (Nominated adviser)\n\n\n\n\n\n\n\nNick Athanas / George Payne\n\n\nTel: +44 (0) 203 328 5656\n\n\n\n\n\n\n\n\n\n\n\n\nClear Capital Markets Limited (Broker)\n\n\n\n\n\n\n\nBob Roberts\n\n\nTel: +44 (0) 203 869 6081\n\n\n\n\n\n\n\n\n\n\n\n\nSt Brides Partners Ltd (Financial PR)\n\n\n\n\n\n\n\n...