Uranium Royalty Corp. (UROY), Tuesday announced an agreement to acquire royalty on Canada-based Aberdeen Uranium Project, which is operated by Forum Energy Metals Corp., for a cash payment of C$1 million.
Notably, Forum will retain the right to repurchase 0.5 percent for the same amount within six months of a successful pre-feasibility study. However, this right will expire seven years after issuance.
The transaction, funded with existing cash facility, is expected to complete by the end of May 2025.
In the pre-market hours, UROY is climbing 3.86 percent, to $2.42 on the Nasdaq.
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