Business
Myriad Uranium to Sell Red Basin Uranium Project for US$2.5 Million, Retain 10% Free Carried Interest, and Enter into Strategic Alliance with a New Venture Backed by Leading U.S. Technologists
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2026) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that it has executed an asset purchase agreement dated as of March 17, 2026 between Myriad, Myriad Red Basin LLC (Myriad's newly incorporated New Mexico Subsidiary) and Subatomic Red Basin, LLC ("Subatomic") pursuant to which Myriad will sell the entirety of the claims it holds comprising its Red Basin Uranium Project in New..
About this update from Myriad Uranium Corp
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - March 18, 2026) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that it has executed an asset purchase agreement dated as of March 17, 2026 between Myriad, Myriad Red Basin LLC (Myriad's newly incorporated New Mexico Subsidiary) and Subatomic Red Basin, LLC ("Subatomic") pursuant to which Myriad will sell the entirety of the claims it holds comprising its Red Basin Uranium Project in New Mexico, USA, to Subatomic for US$2,500,000, payable on closing. Myriad will retain a 10% free carried interest in the Project. Myriad and Subatomic will also form a strategic alliance respecting exploration and development of other projects beyond Red Basin.","length":791,"tagName":"p"},{"type":"text","content":"Transaction Highlights","length":22,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Sale price: US$2,500,000 cash, payable on closing","length":49,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Retained interest: 10% free carried interest in the Red Basin Uranium Project","length":77,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Strategic alliance: Joint focus on uranium opportunities beyond the Red Basin Project area","length":90,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Return on capital: Myriad acquired Red Basin approximately one year ago for C$525,000, representing an over 6x return on invested capital, excluding the carried interest","length":169,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Expected closing: On or before April 17, 2026","length":45,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":430,"olType":false},{"type":"text","content":"Myriad's CEO, Thomas Lamb, commented: "Myriad is thrilled to partner with Subatomic in our Red Basin project, producing a wonderful return on capital that is highly accretive for our shareholders, but more importantly, forming a strategic alliance with a new uranium partner, who will advance the project while we maintain exposure to it through our retained interest. There is considerably more to be revealed regarding Subatomic and the full scope of our alliance in due course. What is already clear, however, is that the po...