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Mega Uranium Announces Further Investments in Toro Energy Ltd. and International Consolidated Uranium Inc.
TORONTO, June 04, 2021 (GLOBE NEWSWIRE) -- Mega Uranium Ltd. (MGA: TSX) is pleased to announce that it has participated in the recently closed equity financings
About this update from Mega Uranium Ltd.
[{"type":"text","content":" TORONTO, June 04, 2021 (GLOBE NEWSWIRE) -- Mega Uranium Ltd. (MGA: TSX) is pleased to announce that it has participated in the recently closed equity financings of Toro Energy Limited (ASX: TOE; “Toro Energy”) and International Consolidated Uranium Inc. (TSXV: CUR; “Consolidated Uranium”), two publicly-listed issuers engaged in uranium exploration and development activities. Mega’s AUD$1.5M investment in Toro Energy formed part of Toro Energy’s AUD$15M aggregate equity financing, that, together with and subject to completion of its proposed AUD$6.7M debt conversion transaction (which requires shareholder approval), would position Toro Energy as debt-free and well-funded for its ongoing development and exploration programs. Mega has been a long-time shareholder and supporter of Toro Energy dating back to 2013 and now holds a 12.76% equity interest in the company. Mega also invested an additional CAD$482,000 in Consolidated Uranium’s recently completed CAD$9M equity financing. The financing brought Consolidated Uranium’s balance sheet to approximately CAD$23M in cash assets. Commenting on these additions to Mega Uranium’s investment portfolio, Richard Patricio, President and CEO, stated: \"We are pleased to continue our support of our investee companies and congratulate them on their recent successes. Both companies are competitively positioned for growth in this resurgent uranium market. In addition to our flagship investment in NexGen Energy Ltd. (TSX:NXE; NYSE MKT:NXE) hitting all-time highs recently, we believe that the uranium equity markets are in a new bullish trend and we are optimistic about our assets and uranium investments and our ability to monetize them in the future. ABOUT MEGA URANIUM LTD. Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia and Canada and a portfolio of equity investments in uranium-focused public and private companies. Further information on Mega can be found on the company’s website at www.megauranium.com. For further information please contact: Mega Uranium Ltd.Richard PatricioChief Executive Officer and PresidentT: (416) [email protected] www.megauranium.com ABOUT TORO ENERGY LTD. Toro’s flagship asset is the 100% owned Wiluna Uranium Project, located 30 kilometres southwest of Wiluna in Central Western Austr...