Brief: Skyharbour to acquire 100 pct of Moore Lake Uranium project from Denison

Skyharbour Resources

14/07/2016 12:30

July 14 (Reuters) - Skyharbour Resources Ltd  SYH.V   
    * Skyharbour secures option to acquire 100 pct of Moore Lake 
Uranium project from Denison and announces David Cates to join 
board of directors 
    * As part of option agreement, co will issue 18 million 
shares, make staged cash payments over five years totaling 
$500,000 to denison 
    * Under option agreement, Skyharbour will become operator of 
Moore Lake Project 
    * David Cates, president and CEO of Denison and Uranium 
Participation Corp, will be joining Skyharbour's board 
    * Co will also incur $3.5 million in exploration 
expenditures over five years to complete acquisition of 100 pct 
interest in property 
    * Skyharbour has received board approval for consolidation 
of company's issued and outstanding share capital 
    * Intended consolidation will be on a basis of one 
post-consolidation common share for every four pre-consolidation 
common shares 
    * Arranged a non-brokered private placement of up to 
13,000,000 units at a price of $0.15 per unit 
 
Source text for Eikon:  ID:nGNXMXUARa  
Further company coverage:  SYH.V  
 
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