An unknown buyer has executed and closed a definitive sale agreement to acquire Certain non-core assets of Athabasca Minerals Inc. for CAD 3.2 million.

An unknown buyer has executed and closed a definitive sale agreement to acquire Certain non-core assets of Athabasca Minerals Inc. for CAD 3.2 million on June 27, 2023. The total cash consideration of $3.2 million includes an initial payment of $2.9 million upon closing with $300,000 in holdbacks. $200,000 will be held and then released upon the full assignment and transfer of the leases and an additional $100,000 will be held pending the completion of outstanding regulatory obligations on one of the leases.

These transactions remain subject to receipt of all necessary regulatory and other approvals, including the final approval of the TSX Venture Exchange. On July 5, 2023, TSX Venture Exchange has accepted for filing documentation with respect to the disposition of certain non-core assets of the Company. The acquisition of the Certain non-core assets includes five surface mineral leases, including Coffey Lake, the Warrensville South and North properties, two inventory stockpiles, one metallic and industrial minerals lease, and equipment associated with select pits.