Business News • MarketWire • Energy Fuels Announces Creation of Joint Venture to Advance Copper King Project |
Energy Fuels Announces Creation of Joint Venture to Advance Copper King Project |
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Energy Fuels Announces Creation of Joint Venture to Advance Copper King Project
TORONTO, ONTARIO and LAKEWOOD, COLORADO--(Marketwired - June 17, 2014) - Energy Fuels Inc. (TSX:EFR)(NYSE MKT:UUUU) ("Energy Fuels" or the "Company") is pleased to announce that its wholly-owned subsidiary, Wyoming Gold Mining Company, Inc., has entered into a definitive agreement that will create a strategic joint venture for the purpose of facilitating the future development or sale of the Company's Copper King gold/copper project (the "Project"). Upon completion of the transaction, which is expected to occur on or before July 2, 2014, Energy Fuels will contribute the Project to CK Mining Corp., a newly-formed private company. As consideration, the Company will receive a combination of cash and newly issued common stock of CK Mining Corp., representing fifty percent (50%) of its issued and outstanding shares after giving effect to such issuance. The remaining interest in CK Mining Corp. will be held by a private investor group with extensive experience in developing gold projects and building mining companies. Completion of the transaction is subject to regulatory approvals.
View More : http://www.marketwired.com/mw/release.do?id=1921665&sourceType=3
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