Forum Uranium Corp. (FDC.V) said it entered into an agreement with partner Northern Superior Resources Inc. (SUP.V) to acquire Northern Superior's 50% interest in the North Thelon Joint Venture. Forum currently owns 50% of the joint venture, and the acquisition would provide a 100% interest in over 500 thousand acres of claims located adjacent to Areva's 148 million pound Kiggavik uranium deposits, currently undergoing a full feasibility study.
According to the terms of agreement, Forum will acquire all of Northern Superior's right, title and interest in all agreements and property interests related to the North Thelon Joint Venture. As consideration for the acquisition to be closed on or before July 31, 2008, Forum should Issue 2.7 million of its common shares at a deemed price of $0.50 per share, to Northern Superior.
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