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Mustang Energy Corp. Acquires Nucleus Uranium Ltd.
VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the “Company” or “Mustang”) is pleased to announce that it has completed the acquisition of Nucleus Uranium Ltd. (“Nucleus”), an arm’s length British Columbia-based uranium company, pursuant to a share exchange agreement dated May 5, 2025 (the “Agreement”) among the Company, Nucleus, and Golden Mile Resources Corp. (the “Shareholder”), the former sole shareholder of Nucleus. Nucleus
About this update from Mustang Energy Corp
[{"type":"image","alt":"Mustang Energy Corp.","displaySize":"","headline":null,"caption":"Mustang Energy Corp.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":70,"url":"https://media.zenfs.com/en/globenewswire.com/e8382b1eb648867ac0d18137d0dcc293"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/VU3BjoP8Q7_pH6q2cevulw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTk4O2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/e8382b1eb648867ac0d18137d0dcc293","width":300,"height":70}},"lazy":false},{"type":"text","content":"VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the “Company” or “Mustang”) is pleased to announce that it has completed the acquisition of Nucleus Uranium Ltd. (“Nucleus”), an arm’s length British Columbia-based uranium company, pursuant to a share exchange agreement dated May 5, 2025 (the “Agreement”) among the Company, Nucleus, and Golden Mile Resources Corp. (the “Shareholder”), the former sole shareholder of Nucleus. Nucleus, now a wholly-owned subsidiary of the Company, is the sole registered and beneficial owner of the Nucleus Saskatchewan project, which consists of six mineral claims covering approximately 18,571 hectares in the Athabasca Basin, Saskatchewan (the “Nucleus Project”).","length":781,"tagName":"p"},{"type":"text","content":"Pursuant to the Agreement, the Company acquired all of the outstanding common shares in the capital of Nucleus from the Shareholder in consideration for the issuance of an aggregate of 9,000,000 common shares (each, a “Consideration Share”) in the capital of the Company at a deemed price of $0.26 per Consideration Share to certain designees of the Shareholder, in addition to paying certain transaction related expenses of the Shareholder.","length":441,"tagName":"p"},{"type":"text","content":"About Mustang Energy Corp.:","length":27,"tagName":"p"},{"type":"text","content":"Mustang is a resource exploration company focused on acquiring and developing high-potential uranium and critical mineral assets. The Company is actively exploring its properties in Northern Saskatchewan, Canada and holds 92,211 hectares in around the Athabasca Basin. Mustang's Ford Lake project covers 7,743 hectares in the prolific eastern Athabasca Basin, while its Cigar Lake East and Roughrider South projects span...