Uranium Energy Corp. (UEC) announced that it has entered into an option agreement with Neutron Energy Inc., granting Neutron the exclusive option to purchase the company's 49%-interest in Cibola Resources LLC for a cash payment of US$11 million. Cibola is owned 49% by the company and 51% by Neutron.
In order to exercise its option, Neutron must give the company written notice of its intention to exercise the option by December 31, 2009, and to pay by January 10, 2010.
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