Business
Homeland Uranium Completes Reverse Takeover of Shift Rare Metals
Financing Conditions Met -TSXV Trading to Begin Shortly Under the Symbol HLU Vancouver, British Columbia--(Newsfile Corp. - March 10, 2025) - Homeland Uranium C
About this update from Homeland Uranium Corp.
[{"type":"text","content":" Financing Conditions Met -TSXV Trading to Begin Shortly Under the Symbol HLU Vancouver, British Columbia--(Newsfile Corp. - March 10, 2025) - Homeland Uranium Corp. (TSXV: VVR) (\"Homeland\" or the \"Company\") is pleased to announce that it has completed its previously announced reverse-takeover transaction (the \"Transaction\") of Shift Rare Metals Inc. (\"Shift\"). Shift's key assets acquired during the transaction are the Coyote Basin and Red Wash Uranium Properties in northern Colorado. In connection with the Transaction, the Company has changed its name from \"Valleyview Resources Ltd.\" to \"Homeland Uranium Corp.\" to reflect its focus on uranium exploration and development. \"Homeland is pleased to announce the closing of our transaction with Shift. Homeland emerges from this transaction as a resourceful American-focused uranium explorer and developer that is well financed and guided by an exceptional and experienced board and management team. Our upcoming planned exploration program at our Coyote Basin Project provides shareholders with an excellent opportunity to capture value from the growing demand for US domestic uranium production,\" said Roger Lemaitre, President and CEO of Homeland Uranium. The Transaction received disinterested shareholder approval and was completed by way of a three-cornered statutory amalgamation, with former shareholders of Shift receiving 15,500,000 common shares of the Company on closing. In connection with the Transaction, each of the previously issued 53,688,300 subscription receipts of Shift (\"Subscription Receipts\") were automatically exchanged for one common share of the Company and one-half of a common share purchase warrant (each whole warrant, a \"Warrant\") Each Warrant is exercisable for one additional common share of the Company at an exercise price of $0.50 until March 7, 2027. The Subscription Receipts were issued pursuant to a non-brokered and brokered offering (together, the \"Offering\"). The Warrants are subject to the terms of a supplemental warrant indenture (the \"Warrant Indenture\") dated March 7, 2025 entered into by the Company and Endeavor Trust Company, as Warrant Agent. The brokered portion of the Offering was conducted pursuant to an agency agreement (the \"Agency Agreement\") dated December 23, 2024 (as amended on January 21, 2025) with SCP Resource Finance ...