VANCOUVER, BC, Oct. 15, 2020 /CNW/ - International
Consolidated Uranium Inc. ("CUR" or the "Company")
(TSXV: CUR) announces that Mr. Gregory Duras, B.Admin., CPA, CGA
has been appointed as the Company's Chief Financial Officer,
effective immediately.
Mr. Duras is a senior executive with over 23 years of experience
working in the resource sector in corporate development, financial
management and cost control positions. He's held the position of
CFO at several publicly traded companies, including Savary Gold
Corp., Nordic Gold Corp and Avion Gold Corp., and spearheaded large
corporate financings. He is currently the CFO of Emerita
Resources Ltd. and Red Pine Exploration Inc. Mr. Duras holds a
Bachelor of Administration degree from Lakehead University and completed his Chartered
Professional Accountant (CPA) designation in 1998. Mr. Duras
replaces Janine Richardson as Chief
Financial Officer.
Philip Williams, Chief Executive
Officer, commented, "I'm pleased to welcome Greg to the Company.
Greg is an accomplished executive and brings with him decades of
experience in the resource sector, financial reporting, and capital
markets. Greg joins us at a very exciting time, and his experience
will be a tremendous asset as the Company continues to develop its
global portfolio of uranium assets. On behalf of the Board of
Directors, I would like to thank Ms. Richardson for her
contributions to the Company over the past three years,
particularly in recent months during this transition period. We
wish Ms. Richardson well in her future endeavors."
The Company also announces that is has granted an aggregate of
570,000 incentive stock options to certain officers, directors, and
consultants of the Company (the "Options"). The Options were
granted on October 15th,
2020, are exercisable at a price of $0.54, vest in three equal annual instalments
commencing on the grant date and have a term of five years. The
Options were issued pursuant to the Company's Omnibus Long-term
Incentive Plan and are subject to regulatory approval.
About Consolidated Uranium
International Consolidated Uranium Inc. (formally, NxGold Ltd.)
is a Vancouver-based exploration
company. The Company recently entered into options agreements with
Mega Uranium Ltd. (TSX: MGA) to acquire a 100% interest in the Ben
Lomond and Georgetown uranium
projects in Australia, and
IsoEnergy Ltd. (TSXV: ISO) to acquire a 100% interest in the
Mountain Lake uranium project in Nunavut,
Canada. The Company entered into the Mountain lake option
agreement with IsoEnergy on July 16,
2020 and the transaction remains subject to regulatory
approval. In addition, the Company owns 80% of the Mt. Roe gold
project located in the Pilbara region of Western Australia and has entered into an
earn-in agreement with Meliadine Gold Ltd. to earn up to a 70%
interest in the Kuulu Project (formerly known as the Peter Lake
Gold Project) in Nunavut.
Neither TSX Venture Exchange nor its Regulations Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statement Regarding "Forward-Looking"
Information.
This news release contains "forward-looking information"
within the meaning of applicable Canadian securities legislation.
"Forward-looking information" includes, but is not limited to,
statements with respect to activities, events or developments that
the Company expects or anticipates will or may occur in the future,
including the receipt of regulatory approval of the
Offering, use of proceeds of the Offering, the size of the Offering
and completion of the Offering. Generally, but not always,
forward-looking information and statements can be identified by the
use of words such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes" or the negative connotation thereof or variations of
such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved" or the negative connation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that regulatory
approval to the Offering will be obtained, that general business
and economic conditions will not change in a material adverse
manner, that financing will be available if and when needed and on
reasonable terms, and that third party contractors, equipment and
supplies and governmental and other approvals required to conduct
the Company's planned exploration activities will be available on
reasonable terms and in a timely manner. Although the assumptions
made by the Company in providing forward-looking information or
making forward-looking statements are considered reasonable by
management at the time, there can be no assurance that such
assumptions will prove to be accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, reliance on key
management and other personnel, potential downturns in economic
conditions, actual results of exploration activities being
different than anticipated, changes in exploration programs based
upon results, and risks generally associated with the mineral
exploration industry, environmental risks, changes in laws and
regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company undertakes
no obligation to update or reissue forward-looking information as a
result of new information or events except as required by
applicable securities laws.
SOURCE NxGold Ltd.
