Business
Exercise of Option by Uranium Royalty Corp.
Exercise of Option by Uranium Royalty Corp..
About this update from Yellow Cake Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9507T\n Yellow Cake PLC\n 30 March 2021\n \n \n \n \n 30 March 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n Yellow Cake plc (\"Yellow Cake\" or the \"Company\")\n \n \n \n \n \n \n \n Exercise of Option by Uranium Royalty Corp.\n \n \n \n \n \n \n \n \n Yellow Cake, a specialist company operating in the uranium sector, with a view to holding physical uranium for the long term, announces that \n Uranium Royalty Corp (\"URC\") has elected to exercise its option to purchase US$10 million worth of \n U3O8\n from Yellow Cake. \n \n \n URC will purchase 3\n 48,068 lb of U3O8 from Yellow Cake at US$28.73/ lb. Delivery is expected to take place on or around 30 April 2021. The 348,068 lb of U3O8 to be acquired by URC as part of this option exercise was purchased by Yellow Cake in the spot market. \n \n As part of the subscription agreement entered into at the time of the Company's IPO, the Company granted URC an option to acquire between US$2.5 million and US$10 million worth of U3O8 per year in each of the nine calendar years commencing on 1 January 2019, up to a maximum aggregate amount over such nine year period of US$31.25 million worth of U3O8.\n The Company's total U3O8 holding after deducting the URC purchase is 13.0 million lb, including 100,000 lb of U3O8 recently purchased by the Company.\n \n \n \n \n \n \n \n \n \n \n ENQUIRIES: \n \n \n \n \n Yellow Cake plc\n \n \n \n \n \n \n \n \n \n \n Andre Liebenberg, CEO\n \n \n Carole Whittall, CFO\n \n \n \n \n \n \n \n Tel: +44 (0) 153 488 5200\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Nominated Adviser and Joint Broker: Canaccord Genuity Limited\n \n \n \n \n \n \n \n \n Henry Fitzgerald-O'Connor\n \n \n \n James Asensio\n \n \n \n \n \n \n \n \n Georgina McCooke\n \n Tel: +44 (0) 207 523 8000\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Joint Broker: Berenberg\n \n \n \n \n \n \n \n Matthew Armitt\n \n \n Jennifer Wyllie\n \n \n \n \n \n \n \n Varun Talwar\n \n \n Detlir Elezi\n \n \n \n \n \n \n \n Tel: +44 (0) 203 207 7800\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Financial Adviser: Bacchus Capital ...