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JVR Ventures Inc. Enters into Agreement for Qualifying Transaction with Luna Energy Ltd. and Its Cabayu Uranium Project
Vancouver, British Columbia--(Newsfile Corp. - March 25, 2025) - JVR Ventures Inc. (TSXV: JVR.P...
About this update from Jvr Ventures, Inc.
[{"type":"text","content":"JVR Ventures Inc. Enters into Agreement for Qualifying Transaction with Luna Energy Ltd. and Its Cabayu Uranium ProjectVancouver, British Columbia--(Newsfile Corp. - March 25, 2025) - JVR Ventures Inc. (TSXV: JVR.P) (\"JVR\" or the \"Corporation\") is pleased to announce that it has entered into a binding term sheet dated March 25, 2025 (the \"Agreement\") with Luna Energy Ltd. (\"Luna\"), a private company incorporated under the Business Corporations Act (British Columbia), pursuant to which JVR will acquire all of the issued and outstanding securities of Luna, with such arm's length acquisition (the \"Proposed Transaction\") constituting a reverse take-over of the Corporation, subject to the terms and conditions outlined below. The Corporation, as the resulting issuer following the completion of the Proposed Transaction (the \"Resulting Issuer\"), will continue the business of Luna. The Corporation intends that the Proposed Transaction will constitute its Qualifying Transaction, as such term is as defined by TSX Venture Exchange (\"TSXV\") Policy 2.4 - Capital Pool Companies (\"Policy 2.4\"). In connection with the Proposed Transaction, the Corporation will issue subsequent news releases setting out further information contemplated in Policy 2.4. On closing of the Proposed Transaction, it is anticipated that the common shares of the Resulting Issuer (the \"Resulting Issuer Shares\") will be listed for trading on the TSXV as a Tier 2 Mining Issuer.About the Cabayu Uranium ProjectStarting in 2023 Luna focused its efforts on the uranium potential of the western portion of the Paraná sedimentary basin in Paraguay. Exploration work completed by Anschutz Corporation between 1976 and 1983, along with insights derived from subsequent historical exploration work focused in two areas currently held by Uranium Energy Corp. (\"UEC\"), within the western flank of the basin, informed Luna's focus. Upon acquiring, digitizing, georeferencing and reinterpreting all the Anschutz and other available historical data - geophysical and geological, Luna's field team spent considerable time in the field locating historical drill holes assessing local community dynamics, roads and related access and infrastructure considerations. Subsequently, Luna, through its 82.58% owned Paraguayan subsidiary company Arasy Minas S.A., filed twelve applications...