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Transition Options 100% Interest in the Janice Lake Sedimentary Copper Project, Saskatchewan to Forum Uranium
Transition Options 100% Interest in the Janice Lake Sedimentary Copper Project, Saskatchew...
About this update from Transition Metals Corp.
[{"type":"text","content":"\n\n\n\nTransition Options 100% Interest in the Janice Lake Sedimentary Copper Project, Saskatchewan to Forum Uranium\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nSUDBURY, ON, Feb. 6, 2018\n\n\n\nSUDBURY, ON, Feb. 6, 2018 /CNW/ - Transition Metals Corp. (\"Transition\", XTM – TSX.V) and Forum Uranium Corp. (\"Forum\", FDC-TSX.V), collectively (\"the Parties\") are pleased to announce that the Parties have entered into a definitive agreement (the \"Agreement\") whereby Forum has optioned a 100% interest in the Janice Lake Sedimentary Copper Property (the \"Property\"), in north-central Saskatchewan. The Janice Lake Property is located 55 kilometres southeast of the Key Lake uranium processing facility in close proximity to several of Forum's core uranium exploration projects. \n\nScott McLean, President and CEO of Transition Metals added, \"Transition views the opportunity at Janice to be one of the best exploration stage sedimentary copper projects in North America. We are pleased to partner with Forum, which has operational capacity and depth of expertise in Saskatchewan to  move this project forward.\" \n\nRick Mazur, President and CEO of Forum, stated, \"We see Janice as a strategically positioned opportunity to diversify our exposure beyond uranium to include copper. We believe significant demand for copper will result as transformative changes to metals markets unfold due to new reliance on energy metals. With an exceptional portfolio of drill ready projects in the Athabasca Basin, our commitment to uranium remains while markets come back into balance.\" \n\nThe terms of the transaction as specified in the Agreement are summarized as follows: \n\n\nForum can earn a 100% interest by providing Transition with staged cash payments over 4 years totaling $250,000 ($25,000 upon signing), issuing Transition 8,000,000 Forum common shares and completing $250,000 of work expenditures within 6 months of the signing of the Agreement.\nOf the share issued, 2,000,000 will be provided directly to Transition and the remaining 6,000,000 shares ...