Forum Uranium Corp. (TSXV:FDC) has consolidated its North Thelon property interests by way of a Purchase and Sales Agreement with Agnico Eagle Mines Ltd. to acquire a 100% interest in Agnico Eagle’s Judge Sissons and Schultz Lake claims.
As quoted in the press release:
Under the terms of the Agreement, which replaces the previous Option Agreement completed with Agnico Eagle in 2008 (See press releases dated March 3, 2008 and January 15, 2014), Forum will acquire a 100% interest in the Judge Sissons and Schultz Lake claims for $250,000 cash, 675,000 common shares and a 2% Net Smelter Royalty. On completion of the transaction, which is subject to approval of the TSX Venture Exchange, Agnico Eagle will own 4% of Forum’s outstanding common shares.
Forum Uranium President and CEO, Richard Mazur, said:
This acquisition reinforces Forum’s strategy of maintaining a strong presence in both the Athabasca and Thelon Basins. The Agnico Eagle purchase now gives Forum full control of a strategic landholding in close proximity to AREVA’s proposed Kiggavik uranium development. Our 100% owned North Thelon project continues to be a long-term core asset that the Company plans to revisit as uranium prices improve and as AREVA advances Kiggavik towards production.