Business News • MarketWire • Energy Fuels Announces Closing of Copper King Transaction |
Energy Fuels Announces Closing of Copper King Transaction |
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Energy Fuels Announces Closing of Copper King Transaction
TORONTO, ONTARIO and LAKEWOOD, COLORADO--(Marketwired - July 2, 2014) - Energy Fuels Inc. (NYSE MKT:UUUU)(TSX:EFR) ("Energy Fuels" or the "Company") is pleased to announce the closing of the previously announced transaction whereby the Company has created a strategic joint venture to facilitate the future development or sale of the Copper King gold/copper project in Wyoming. As previously announced, the Company has contributed the Copper King Project to CK Mining Corp. ("CK Mining"), a newly formed private company, in consideration of cash and newly issued common stock of CK Mining, representing 50% of its issued and outstanding shares after giving effect to such issuance. A private investor group with extensive experience in developing gold projects and building mining companies will hold the other 50% of CK Mining. The Company entered into this transaction in order to realize the significant expected benefits of the project's future development or sale.
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