ValOre Closes Previously Announced Sale of Angilak Property to Labrador Uranium
June 20 2023 - 7:00AM
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 contact@valoremetals.com.
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.
This news release contains “forward-looking
statements” within the meaning of applicable securities laws.
Although ValOre believes that the expectations reflected in its
forward-looking statements are reasonable, such statements have
been based on factors and assumptions concerning future events that
may prove to be inaccurate. These factors and assumptions are based
upon currently available information to ValOre. Such statements are
subject to known and unknown risks, uncertainties and other factors
that could influence actual results or events and cause actual
results or events to differ materially from those stated,
anticipated or implied in the forward-looking statements. A number
of important factors including those set forth in other public
filings could cause actual outcomes and results to differ
materially from those expressed in these forward-looking
statements. Factors that could cause the actual results to differ
materially from those in forward-looking statements. The statements
in this press release are made as of the date of this release and,
except as required by applicable law, ValOre does not undertake any
obligation to publicly update or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise. ValOre undertakes no obligation to
comment on analyses, expectations or statements made by third
parties in respect of ValOre, or its financial or operating results
or (as applicable), their securities.
ValOre Metals (TSXV:VO)
Historical Stock Chart
From Jul 2024 to Aug 2024
ValOre Metals (TSXV:VO)
Historical Stock Chart
From Aug 2023 to Aug 2024