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ValOre Metals Closes Previously Announced Sale of Angilak Property to Labrador Uranium
VANCOUVER, British Columbia, June 20, 2023 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “ValOre” or the “Company
About this update from Valore Metals Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, June 20, 2023 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “ValOre” or the “Company”) today announced that effective June 19, 2023, the sale of its Angilak Property in Nunavut Territory, Canada, to Labrador Uranium Inc. (the “Transaction”, as previously announced in ValOre’s news releases on March 14, 2023 and June 13, 2023) has closed. ValOre has received the $3,000,000 cash consideration for the Transaction and the 100,000,000 common shares of Labrador Uranium Inc. (the “Labrador Shares”) issued to ValOre pursuant to the Transaction will now be distributed (the “Labrador Share Distribution”) to the shareholders of ValOre, pro rata, as a return of capital. Labrador Uranium Inc. is listed on the Canadian Securities Exchange (trading symbol LUR) and the Labrador Shares will be subject to a hold period expiring on August 6, 2023. Jim Paterson, ValOre’s Chairman & CEO stated, “With the closing of the Angilak Property transaction, ValOre’s team can now focus on advancing its 100% owned Pedra Branca Platinum Group Elements project in Brazil while our shareholders gain share ownership in a well-financed, pure-play uranium exploration company that is led by a board of directors with an enviable track record in the uranium sector.” About ValOre ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation. On behalf of the Board of Directors, “Jim Paterson”James R. Paterson, Chairman and CEO For further information about ValOre Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at [email protected]. ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/ Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Th...