Latest news with #GreatNorthernEnergyMetalsInc
Cision Canada
21-05-2025
- Business
- Cision Canada
Great Northern Energy Metals Acquires Option to Secure Uranium Claims in Colorado
VANCOUVER, BC, May 21, 2025 /CNW/ - Great Northern Energy Metals Inc. (" GNEM" or the " Company") (CSE: GNEM) is pleased to announce that it has entered into an assignment and assumption agreement (the " Assignment Agreement") to acquire all rights, title, and interests in an option agreement (the " Option Agreement") originally dated February 6, 2025, between UREnergy, LLC, a Colorado-based uranium company (" UREnergy"), and 16508731 Canada Inc., an Ontario-incorporated entity (the " Assignor"). Under the Assignment Agreement dated May 18, 2025, GNEM assumes the rights and obligations to earn a 100% interest in a package of mineral claims and leases (the " Property") located in San Miguel County, Colorado. The Property includes the Slickrock Lease and 60 contiguous unpatented mining claims, known for historical uranium occurrences. Transaction Summary: GNEM has assumed the Assignor's obligations under the Option Agreement to acquire the Property in exchange for: An aggregate of USD$1,450,000 in cash payments (collectively, the "Option Cash Payments") to UREnergy, following the below payment schedule: $250,000 on Nov 3 rd, 2025 $400,000 on May 18 th 2026; $400,000 May 18 th 2027; and $400,000 on May 18 th 2028; The issuance of fully-paid and non-assessable common shares in the capital of GNEM (the " Option Shares") to UREnergy in four tranches totaling CDN$1,830,000, following the below payment schedule: $750,000 worth of Option Shares on Nov 3 rd 2025; $360,000 worth of Option Shares on May 18 th 2026 $360,000 worth of Option Shares on May 18 th 2027; and $360,000 worth of Option Shares May 18 th 2028. The deemed price of the Option Shares will be based on the 15-day volume-weighted average trading price of GNEM's shares on the Canadian Securities Exchange (the " CSE") at the time of issuance. All issuances are subject to regulatory approval. UREnergy has provided customary representations and warranties, including good title and compliance with applicable environmental and permitting regulations. The Assignment is subject to any necessary approvals under applicable Canadian securities laws and the policies of the CSE. Strategic Importance The Property hosts prospective uranium targets in a historically productive uranium belt. The acquisition aligns with GNEM's strategy to secure high-potential uranium assets in geopolitically stable jurisdictions. "This transaction gives GNEM a significant foothold in a tier-one uranium jurisdiction," stated David Mitchell CEO of GNEM. "We believe the Slickrock district has untapped potential, and we are excited to advance exploration and development efforts in collaboration with UREnergy." About Great Northern Energy Metals Inc. GNEM is a Canadian-based exploration and development company focused on securing and developing critical energy metals, including uranium. The Company's mission is to support the global transition to clean energy through responsible resource development. Cautionary Note Regarding Forward-Looking Statements This news release includes certain statements that may be deemed "forward-looking statements", including but not limited to: the payments to be made under the Option Agreement, the development potential of the Property, approval of the CSE, and GNEM's strategic objectives. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Yahoo
21-05-2025
- Business
- Yahoo
Great Northern Energy Metals Acquires Option to Secure Uranium Claims in Colorado
VANCOUVER, BC, May 21, 2025 /CNW/ - Great Northern Energy Metals Inc. ("GNEM" or the "Company") (CSE: GNEM) is pleased to announce that it has entered into an assignment and assumption agreement (the "Assignment Agreement") to acquire all rights, title, and interests in an option agreement (the "Option Agreement") originally dated February 6, 2025, between UREnergy, LLC, a Colorado-based uranium company ("UREnergy"), and 16508731 Canada Inc., an Ontario-incorporated entity (the "Assignor"). Under the Assignment Agreement dated May 18, 2025, GNEM assumes the rights and obligations to earn a 100% interest in a package of mineral claims and leases (the "Property") located in San Miguel County, Colorado. The Property includes the Slickrock Lease and 60 contiguous unpatented mining claims, known for historical uranium occurrences. Transaction Summary: GNEM has assumed the Assignor's obligations under the Option Agreement to acquire the Property in exchange for: An aggregate of USD$1,450,000 in cash payments (collectively, the "Option Cash Payments") to UREnergy, following the below payment schedule: The issuance of fully-paid and non-assessable common shares in the capital of GNEM (the "Option Shares") to UREnergy in four tranches totaling CDN$1,830,000, following the below payment schedule: The deemed price of the Option Shares will be based on the 15-day volume-weighted average trading price of GNEM's shares on the Canadian Securities Exchange (the "CSE") at the time of issuance. All issuances are subject to regulatory approval. UREnergy has provided customary representations and warranties, including good title and compliance with applicable environmental and permitting regulations. The Assignment is subject to any necessary approvals under applicable Canadian securities laws and the policies of the CSE. Strategic Importance The Property hosts prospective uranium targets in a historically productive uranium belt. The acquisition aligns with GNEM's strategy to secure high-potential uranium assets in geopolitically stable jurisdictions. "This transaction gives GNEM a significant foothold in a tier-one uranium jurisdiction," stated David Mitchell CEO of GNEM. "We believe the Slickrock district has untapped potential, and we are excited to advance exploration and development efforts in collaboration with UREnergy." About Great Northern Energy Metals Inc. GNEM is a Canadian-based exploration and development company focused on securing and developing critical energy metals, including uranium. The Company's mission is to support the global transition to clean energy through responsible resource development. Cautionary Note Regarding Forward-Looking Statements This news release includes certain statements that may be deemed "forward-looking statements", including but not limited to: the payments to be made under the Option Agreement, the development potential of the Property, approval of the CSE, and GNEM's strategic objectives. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. SOURCE Great Northern Energy Metals Inc. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
14-05-2025
- Business
- Cision Canada
Great Northern Energy Metals Inc. Announces Joint Venture with CVMR Inc. to Develop a Uranium Milling Facility
TORONTO, May 14, 2025 /CNW/ - Great Northern Energy Metals Inc. (CSE: GNEM) ("GNEM" or the "Company") is pleased to announce the formation of a strategic joint venture with CVMR Corporation ("CVMR"), a globally recognized leader in refining and metal powder manufacturing technologies based in Toronto, Ontario. The joint venture will focus on the design, construction, and operation of a uranium milling facility in Colorado, United States, marking a significant milestone in GNEM's growth strategy and its commitment to advancing the critical minerals supply chain. Under the terms of the Joint Venture Formation Agreement, GNEM and CVMR will form a special-purpose Wyoming limited liability company (the "JV LLC") to hold the planned facility, and each contribute key resources to the joint venture, combining GNEM's access to high-potential uranium assets with CVMR's proprietary refining technology and operational expertise. The new facility is intended to process uranium mineralized material sourced from GNEM's recently optioned mineral claims and leases in Colorado, with potential for toll milling of third-party feedstock. Kamran Khozan, CEO of CVMR, stated "CVMR Corporation's mining methods and production of yellow cake process can substantially reduce the negative impacts of pollutants and render the entire chain of mining and beneficiation of uranium harmless to the environment." "The formation of this joint venture represents a transformational step forward for GNEM," said David Mitchell. CEO of Great Northern Energy Metals Inc. "By leveraging CVMR's globally proven technology and our strong position in one of the most promising uranium jurisdictions in North America, we are positioning ourselves to play a pivotal role in the North American energy transition." Key Highlights of the Joint Venture Include: Equal Ownership: GNEM and CVMR will each hold a 50% interest in the JV LLC. Strategic Location: The uranium milling facility will be developed in Colorado, a historically significant uranium-producing state with supportive infrastructure and regulatory framework. Environmental Commitment: The joint venture will prioritize sustainable development practices, aligning with state and federal environmental regulations and emphasizing minimal environmental impact. The formation of the joint venture is subject to certain regulatory approvals and customary closing conditions. GNEM will provide further updates as key milestones are achieved. About Great Northern Energy Metals Inc. Great Northern Energy Metals Inc. is a Canadian exploration and development company focused on critical minerals essential to the global clean energy transition. With a primary focus on uranium, GNEM is committed to responsibly advancing projects that will help meet the growing demand for secure and sustainable energy sources. About CVMR Inc. CVMR Inc. is a privately held, global leader in refining technologies and the production of high-purity metal powders. With over three decades of innovation, CVMR provides cutting-edge solutions across the energy, aerospace, and medical sectors. Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release includes certain statements that may be deemed "forward-looking statements", including but not limited to: the formation of the JV LLC, the development of a uranium milling facility in Colorado, and the expected benefits of the joint venture with CVMR. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. SOURCE Great Northern Energy Metals Inc.
Yahoo
14-05-2025
- Business
- Yahoo
Great Northern Energy Metals Inc. Announces Joint Venture with CVMR Inc. to Develop a Uranium Milling Facility
TORONTO, May 14, 2025 /CNW/ - Great Northern Energy Metals Inc. (CSE: GNEM) ("GNEM" or the "Company") is pleased to announce the formation of a strategic joint venture with CVMR Corporation ("CVMR"), a globally recognized leader in refining and metal powder manufacturing technologies based in Toronto, Ontario. The joint venture will focus on the design, construction, and operation of a uranium milling facility in Colorado, United States, marking a significant milestone in GNEM's growth strategy and its commitment to advancing the critical minerals supply chain. Under the terms of the Joint Venture Formation Agreement, GNEM and CVMR will form a special-purpose Wyoming limited liability company (the "JV LLC") to hold the planned facility, and each contribute key resources to the joint venture, combining GNEM's access to high-potential uranium assets with CVMR's proprietary refining technology and operational expertise. The new facility is intended to process uranium mineralized material sourced from GNEM's recently optioned mineral claims and leases in Colorado, with potential for toll milling of third-party feedstock. Kamran Khozan, CEO of CVMR, stated "CVMR Corporation's mining methods and production of yellow cake process can substantially reduce the negative impacts of pollutants and render the entire chain of mining and beneficiation of uranium harmless to the environment." "The formation of this joint venture represents a transformational step forward for GNEM," said David Mitchell. CEO of Great Northern Energy Metals Inc. "By leveraging CVMR's globally proven technology and our strong position in one of the most promising uranium jurisdictions in North America, we are positioning ourselves to play a pivotal role in the North American energy transition." Key Highlights of the Joint Venture Include: Equal Ownership: GNEM and CVMR will each hold a 50% interest in the JV LLC. Strategic Location: The uranium milling facility will be developed in Colorado, a historically significant uranium-producing state with supportive infrastructure and regulatory framework. Environmental Commitment: The joint venture will prioritize sustainable development practices, aligning with state and federal environmental regulations and emphasizing minimal environmental impact. The formation of the joint venture is subject to certain regulatory approvals and customary closing conditions. GNEM will provide further updates as key milestones are achieved. About Great Northern Energy Metals Inc. Great Northern Energy Metals Inc. is a Canadian exploration and development company focused on critical minerals essential to the global clean energy transition. With a primary focus on uranium, GNEM is committed to responsibly advancing projects that will help meet the growing demand for secure and sustainable energy sources. About CVMR Inc. CVMR Inc. is a privately held, global leader in refining technologies and the production of high-purity metal powders. With over three decades of innovation, CVMR provides cutting-edge solutions across the energy, aerospace, and medical sectors. Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release includes certain statements that may be deemed "forward-looking statements", including but not limited to: the formation of the JV LLC, the development of a uranium milling facility in Colorado, and the expected benefits of the joint venture with CVMR. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. SOURCE Great Northern Energy Metals Inc. View original content:
