SKRR Exploration to Acquire Citizen Mining, Expanding Uranium Portfolio

SKRR Exploration Acquires Citizen Mining, Gains Bishop Lake Uranium Property

SKRR Exploration has announced its acquisition of Citizen Mining, thereby gaining rights to the Bishop Lake Uranium Property in Saskatchewan. Under the deal, SKRR will issue 17,140,000 of its common shares at a rate of $0.075 per share in exchange for all of Citizen's 17,140,000 issued and outstanding shares. This strategic move is poised to expand SKRR's portfolio and solidify its position in the uranium market.

Key Takeaways

• SKRR Exploration acquires all shares of Citizen Mining, obtaining rights to the Bishop Lake Uranium Property.
• The deal involves the exchange of 17,140,000 SKRR shares for 17,140,000 Citizen shares at $0.075 per share.
• Bishop Lake Property encompasses 11 mineral claims in Saskatchewan.
• Citizen Mining holds an option to secure a 100% interest in the Bishop Lake Property.
• SKRR will issue shares to Citizen shareholders on a pro rata basis.

Analysis

This acquisition marks a significant enhancement to SKRR's uranium portfolio and market position. With the exchange of 17,140,000 shares of each company, SKRR gains access to Bishop Lake's eleven mineral claims in Saskatchewan, while also leveraging Citizen Mining's option for a 100% interest in the property. Noteworthily, this move is anticipated to drive SKRR's growth and uranium market share, with potential long-term revenue growth through uranium extraction at Bishop Lake. Furthermore, the expansion could positively impact Canada's uranium sector.

Did You Know?

• Uranium Property: Refers to a mining claim that grants the holder the right to explore and extract uranium from specific land areas with known uranium deposits.
• Option for a 100% interest: Denotes a contract providing the buyer the right to acquire full ownership of an asset at a predetermined price, as in the case of Citizen Mining's option for the Bishop Lake Uranium Property.
• SKRR Exploration: A Canadian mineral exploration company focusing on uranium and other precious metal properties in Saskatchewan, listed on the TSX Venture Exchange under the ticker symbol "SKRR".