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Uranium Royalty Corp. Exercises Initial Tranche of 10-Year Supply Agreement to Acquire US$10 million of Physical Uranium at US$28.73 per pound
Uranium Royalty Corp. Exercises Initial Tranche of 10-Year Supply Agreement to Acquire US...
About this update from Uranium Royalty Corp
[{"type":"text","content":"\n \n \n \n Uranium Royalty Corp. Exercises Initial Tranche of 10-Year Supply Agreement to Acquire US$10 million of Physical Uranium at US$28.73 per pound\n \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 Canada NewsWire\n \n \n \n \n \n \n Highlights\n \n \n \n \n \n Uranium Royalty Corp (URC) is exercising its option to purchase\n \n US$10 million\n \n of physical uranium, secured under its strategic and foundational investment in the 2018 IPO of Yellow Cake plc (YCA);\n \n \n Initial tranche to be exercised by URC to acquire 348,068 pounds of U\n \n 3\n \n O\n \n 8\n \n at\n \n US$28.73\n \n per pound for delivery on or before\n \n April 30, 2021\n \n ;\n \n \n The acquisition provides URC with direct physical U\n \n 3\n \n O\n \n 8\n \n holdings at an opportunistic price, which is ~7% below the most recent spot price published by TradeTech on\n \n March 29, 2021\n \n of\n \n US$30.75\n \n per pound; and\n \n \n Together with our recently announced proposed acquisitions of royalty interests in the McArthur River and Cigar Lake mines, URC is ideally positioned to benefit from improving uranium prices.\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n March 30, 2021\n \n /CNW/ -\n \n Uranium Royalty Corp.\n \n (TSXV: URC) (\"URC\" or the \"Company\") announces the exercise of its option to acquire 348,068 pounds of U\n \n 3\n \n O\n \n 8\n \n pursuant to its existing strategic arrangements with Yellow Cake plc (\"Yellow Cake\") at a price of\n \n US$28.73\n \n per pound. The Company expects to complete the acquisition and take delivery of the U\n \n 3\n \n O\n \n 8\n \n on or before\n \n April 30, 2021\n \n .\n \n \n \n Scott Melbye\n \n , Chief Executive Officer of URC, commented: \"We are pleased to announce this exercise which gives URC an initial direct uranium stake at an opportunistic price that is below the most recent spot price of\n \n US$30.75\n \n (TradeTech) in what has been a strengthening uranium spot market.  This decision is in line with our goal of gaining exposure to uranium prices through sector-focused investments and it clearly demonstrates the...