Latest news with #OptionAgreement
Business Upturn
3 days ago
- Business
- Business Upturn
Traction Uranium Announces LIFE Offering for up to C$833,400
By GlobeNewswire Published on July 26, 2025, 04:59 IST NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, July 25, 2025 (GLOBE NEWSWIRE) — Traction Uranium Corp. (CSE: TRAC) (FRA: Z1K) (the 'Company' or 'Traction') is pleased to announce that it intends to complete a private placement financing (the 'Offering') of units (each, a 'Unit') at a price of C$0.18 per Unit, with each Unit being comprised of one common share (each, a 'Share') and one Share purchase warrant ('Warrant'). Each Warrant will be entitling the holder to purchase one Share at a price of C$0.24 during the period between the date that is 60 days from Closing (as defined below) and the date that is 24 months from Closing. Closing of the Offering is anticipated to occur on or about August 8, 2025 ('Closing'). The Company notes that it will only complete the Offering if it is able to place a minimum of 2,777,777 Units for gross minimum proceeds of C$500,000. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ('NI 45-106'), the securities issuable under the Offering will be offered for sale to purchasers resident in all of the provinces of Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106 (the 'LIFE Exemption'). As such, the securities issued to subscribers will not be subject to resale restrictions in accordance with applicable Canadian securities laws. There is an offering document dated July 25, 2025 related to the Offering that can be accessed under the Company's profile at and on the Company's website at The offering document contains further details regarding the Offering, including additional detail regarding the expected use of proceeds therefrom. Prospective investors in the Offering should read this amended and restated offering document before making an investment decision. The Company further announces that it has entered into a second amending agreement (the 'Amending Agreement') with the optionor for the Hearty Bay Project which amends certain terms of the mineral property option agreement dated December 9, 2021, as amended by the first amending agreement dated February 28, 2023 (the 'Option Agreement'). See the news release of the Company dated December 10, 2021 for more information concerning the Hearty Bay Project and the Option Agreement. Pursuant to the Amending Agreement, the optionor has agreed to extend the due date of certain cash payments payable by the Company, as well as the deadline by which the Company is to incur certain exploration expenditures under the Option Agreement by a year, in consideration for the issuance of an additional 400,000 common shares (the 'Consideration Shares') of the Company to the optionor. The Consideration Shares shall be subject to a four-month hold. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any United States state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any available exemption from the registration requirements of the U.S. Securities Act and applicable United States state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. ABOUT TRACTION URANIUM CORP. Traction Uranium Corp. (CSE: TRAC) (FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its uranium project in the world-renowned Athabasca Region. We invite you to find out more about our exploration-stage activities across Canada's Western region at On Behalf of The Board of Directors Paul GormanChief Executive Officer (604) 425-2271 [email protected] FORWARD-LOOKING STATEMENTS Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words 'could', 'intend', 'expect', 'believe', 'will', 'projected', 'estimated' and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Offering, including the total amount of securities sold to the offering, anticipated proceeds, the expected use of proceeds, satisfaction of conditions to closing, and the closing (including the proposed closing date) of the Offering, if it is to close at all, as well as the acceptance by the Exchange of the Amending Agreement. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including the assumption that the Company will close the Offering on the timeline anticipated, or at all, will raise the anticipated amount of gross proceeds from the Offering, will use the proceeds of the Offering as anticipated and that the Exchange will accept the Amending Agreement. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that any conclusions or forecasts will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include: the risk that the Offering does not close on the timeline expected, or at all; the risk that the Company raises less than the anticipated amount of gross proceeds from the Offering; the risk that the Company does not use the proceeds from the Offering as currently expected; the risk that Exchange approval of the Amending Agreement will not be obtained; risks inherent in the exploration and development of mineral deposits, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; operational risks; regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; financing, capitalization and liquidity risks; title and environmental risks; and risks relating to the failure to receive all requisite regulatory approvals. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Cision Canada
15-07-2025
- Business
- Cision Canada
Great Northern Energy Metals Announce Fourth Amendment Agreement to Nuvemco Option Agreement
CSE: GNEM VANCOUVER, BC, July 14, 2025 /CNW/ - Great Northern Energy Metals Inc. (" GNEM" or the " Company") (CSE: GNEM) announces that it has amended the option agreement dated August 20, 2024 (the " Option Agreement") with Ventura Uranium LLC (dba Nuvemco, LLC) (" Nuvemco"), 1494402 B.C. Ltd. (the " Optionee") and Paul Szilagyi (" PS", and together with Nuvemco, the " Optionors"). The Optionee's obligations under the Option Agreement were assigned to GNEM pursuant to an assignment and assumption agreement dated May 8, 2025 (the " Assignment Agreement"). The Company and the Optionors have now entered into a fourth amendment agreement, dated July 11, 2025, pursuant to which the date for the first cash payment and the first common share payment has been extended to July 18, 2025 (the " Fourth Amendment Agreement"). Under the terms of the Option Agreement, the Company has the exclusive right to acquire up to a 100% interest in a Colorado-based uranium project (the " Property") through a two-stage option to acquire all of the membership interests in a Colorado limited liability company, NUV2C, LLC (" Holdco"), which holds legal and beneficial title to the Property. Nuvemco currently owns 99% of Holdco, and PS owns the remaining 1% of Holdco. Except as amended by the Fourth Amendment Agreement, the Option Agreement and Assignment Agreement remain unamended and continue in full force and effect. Please see the Company's news releases dated May 9, 2025, June 2, 2025, June 4, 2025 and July 2, 2025. Finder's Fee Agreement The Company also announces the details of a finder's fee agreement previously entered into with an arm's length finder (the " Finder") whereby the Company engaged the Finder as an independent contractor to assist the Company in locating mineral projects (the " Finder's Agreement"). The Finder assisted the Company in discovering the opportunity to enter into the Assignment Agreement and to acquire the membership interests in Holdco. Pursuant to the terms and conditions of the Finder's Agreement, the Company is obligated to pay the Finder a finder's fee worth 5% of the value of the total number of common shares to be issued pursuant to the Option Agreement (the " Finder's Fee"). It is currently contemplated that the Finder's Fee will be paid in common shares in the capital of the Company. All securities to be issued under the Option Agreement and Finder's Agreement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. None of the securities to be issued under the Option Agreement or Finder's Agreement have been or will be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. 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 Finder's Agreement and Option Agreement, the development potential of the Property, 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. SOURCE Great Northern Energy Metals Inc.
Cision Canada
30-06-2025
- Business
- Cision Canada
Argo Announces Results of Annual and Special Meeting of Shareholders
TORONTO, June 30, 2025 /CNW/ - Argo Corporation (TSXV: ARGH) (OTCQX: ARGHF) (" Argo" or the " Company"), a leader in next-generation transit solutions, is pleased to announce the voting results from its annual and special meeting of holders of common shares of the Company (the " Shareholders") held virtually today (the " Meeting"). At the Meeting, Shareholders approved: Election of Directors: The re-election of each of the director nominees of the Company, being Praveen Arichandran, Colette Bridgman and Daniel Habashi, as a director of the Company to serve until the next annual meeting of Shareholders or until their successors are duly elected or appointed; Appointment of Auditors: The re-appointment of SRCO Professional Corporation as the auditor of the Company; Omnibus Plan: The approval of the amended and restated omnibus long-term incentive plan of the Company (the " Omnibus Plan"); FoodFlow Option Agreement: The sale by a wholly-owned subsidiary of the Company of up to 45,932 subordinate-voting shares of FoodsUp Inc., pursuant to the terms and conditions of the option agreement among a wholly-owned subsidiary of the Company, FoodFlow Partner, FoodsUp Inc. and FoodGrowup Partner effective March 6, 2025 (the " FoodFlow Option Agreement"); and 359 Option Agreement: The sale by a wholly-owned subsidiary of the Company, of up to 15,713 subordinate-voting shares of FoodsUp Inc. pursuant to the terms and conditions of the option agreement among a wholly-owned subsidiary of the Company, the Company and 16786359 Canada Inc. effective March 6, 2025 (the " 359 Option Agreement", and together with the FoodFlow Option Agreement, the " Option Agreement s"). The Omnibus Plan was amended solely to increase the number of common shares of the Company (" Common Shares") reserved and available for grant and issuance pursuant to awards under the Omnibus Plan to an aggregate of 27,736,600 Common Shares, representing 20% of the Company's issued and outstanding share capital as of the date of its management information circular in respect of the Meeting. The Omnibus Plan is subject to final approval of the TSX Venture Exchange. As previously disclosed by the Company, under the FoodFlow Option Agreement, FoodFlow has the option (but not the obligation) to purchase up to 30,219 subordinate-voting shares of FoodsUp Inc. from the Company. Under the 359 Option Agreement, 16786359 Canada Inc. has the option (but not the obligation) to purchase up to 15,713 subordinate-voting shares of FoodsUp Inc. from the Company. The Company's new leadership has been working to achieve a sale of its subordinate-voting shares of FoodsUp Inc. (" FoodsUp Shares") since 2024. Given that the Company does not control FoodsUp Inc., and the FoodsUp Shares are private company shares, the Company believes that the best path for selling the FoodsUp Shares is pursuant to the Option Agreements. Importantly, however, the Company can make no assurance that the transactions contemplated under the Option Agreements will occur. The Company expects to provide an update on the Option Agreements following the closing of any of the transactions contemplated under the Option Agreements, if applicable. Each of the transactions under the Option Agreements required approval not less than a majority of the votes cast by holders of Common Shares present in person or represented by proxy and entitled to vote at the Meeting, excluding for this purpose the votes attached to Common Shares required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Option Agreements remain subject to final approval of the TSX Venture Exchange. About Argo Founded in June 2024, Argo delivers the world's first fully vertically integrated transit system, combining proprietary Argo X1 electric vehicles, Smart Routing™ technology, and comprehensive operational management in a single end-to-end solution. By integrating every aspect of the transit experience, Argo enables municipalities to transition from traditional fixed-route services to dynamically optimized on-demand service with substantially better efficiency, coverage, and rider satisfaction, all while maintaining standard public transit pricing. The company launched Argo School in September 2024 and began its first municipal deployment in Bradford West Gwillimbury in early 2025. Learn more at Praveen Arichandran, CEO Argo Corporation (800) 575-7051 Forward-Looking Information Certain information set out in this news release constitutes forward-looking information within the meaning of applicable securities laws. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "hope", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "scheduled", "believe" and similar expressions. The forward-looking information set out in this news release relates to future events or our future performance and includes, without limitation, statements concerning: the Company's intention to complete the sale of the FoodsUp Shares; the completion of the exercise of the options granted pursuant to the Option Agreements by the holders thereof; and Argo's ability to obtain final TSX Venture Exchange approval in respect of the Option Agreements and the Omnibus Plan. Although the forward-looking information contained in this news release is based upon what management of Argo believes are reasonable assumptions on the date of this news release, Argo cannot assure readers that actual results will be consistent with such forward-looking information. Forward-looking information involves substantial known and unknown risks, uncertainties and other factors which cause actual results to vary from those expressed or implied by such forward looking information, including without limitation those risks and uncertainties described in more detail in Argo's securities filings available at Forward-looking information should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. The forward-looking information contained in this news release is provided as of the date hereof. Argo disclaims any intention or obligation to update or publicly revise any forward–looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. All forward-looking information contained in this news release is expressly qualified in its entirety by the foregoing cautionary statements.
Cision Canada
10-06-2025
- Business
- Cision Canada
Alpha 1 SPV Limited Announces Option Agreement to Sell its Interest in Elemental Altus Royalties Corp.
ABU DHABI, UAE, June 10, 2025 /CNW/ - AlphaStream Limited today announces that it and its affiliate, Alpha 1 SPV Limited (together with AlphaStream Limited, " Alpha 1"), have entered into an Option Agreement (the " Option Agreement") with Tether Investments, S.A. DE C.V. (" Optionee"), pursuant to which, among other things, Alpha 1 granted to Optionee the option to acquire (but not the obligation to acquire), and subject to certain terms and conditions, all 34,444,580 of the common shares it holds (the " Alpha 1 Shares", and the option to acquire such shares referred to as the " Alpha 1 Share Option") in Elemental Altus Royalties Corp. (" Elemental"), a gold-focused royalty company listed in Canada. Terms of the Option Agreement The Alpha 1 Share Option will not become exercisable prior to October 29, 2025 without the consent of Elemental. Pursuant to the Option Agreement, Optionee paid an option fee to Alpha 1 in an aggregate amount of CAD$3,444,458, representing a price per Alpha 1 Share of CAD$0.10. If Optionee exercises the Alpha 1 Share Option, depending on when the Alpha 1 Share Option is exercised, the Optionee will pay a variable exercise price (the " Exercise Price") with a minimum aggregate Exercise Price of CAD$51,839,092.90 and a maximum aggregate Exercise Price of CAD$53,389,099 (representing a minimum price per Alpha 1 Share of CAD$1.505 and a maximum price per Alpha 1 Share of CAD$1.550). The Option Agreement includes certain restrictions on the ability of Alpha 1 to sell the Alpha 1 Shares, and in certain circumstances requires Alpha 1 to vote, or refrain from voting, and to tender, or refrain from tendering, the Alpha 1 Shares in accordance with instructions from the Optionee. This announcement is made pursuant to the "early warning" requirements of Canadian securities legislation. A copy of Alpha 1's related early warning report will be filed with the applicable securities commissions and will be made available on SEDAR+ at Further information and a copy of the early warning report of Alpha 1 maybe obtained by contacting: The head office of Elemental is Suite 1020 – 800 West Pender Vancouver, British Columbia V6C 2V6, Canada.
Associated Press
30-05-2025
- Business
- Associated Press
Silver Spruce Signs Amended Option Agreement, Provides Exploration Update on Pino de Plata Project, Chihuahua, Mexico
BEDFORD, NS / ACCESS Newswire / May 30, 2025 / (TSXV:SSE) Silver Spruce Resources, Inc. ('Silver Spruce' or the 'Company') is pleased to report the following update on the Pino de Plata project ('Pino' or the 'Property'), Chihuahua, Mexico. 'We are very excited to report the conclusion of successful negotiations with the claim holder of the four Pino de Plata concessions. The amended Option Agreement ('Option') greatly simplifies the deal structure culminating in mutually beneficial payment terms to earn 100% interest in the Property', said Greg Davison, Silver Spruce Vice-President Exploration and Director. 'The revised terms include a USD$10,000 cash payment on signing and a future sales participation right set at 10% (ten percent) for the Option period of three years. The participation right is calculated as a percentage of the gross proceeds from any transaction wherein Silver Spruce Resources sells an interest, either in whole or in part, in the project.' Mr. Davison added, 'There are no exploration spending commitments, future cash or share payments or royalties payable. This revised agreement eliminates all outstanding cash and share payments (US$625,000), advance royalties (US$120,000 annually) and 3% gross production royalty (capped at US$4,000,000). The 36-month Option window will execute only upon signing of a landowner access agreement and we look forward to re-engaging discussions in Hermosillo. It is our intention to put forth a new offer modelled after the claimholder deal described herein.' 'We remain confident that a mutually beneficial solution to long-term right of access to Pino de Plata will be achieved,' said Mr. Davison. 'We appreciate the unwavering support of our shareholders throughout these drawn-out negotiations, and we believe the project value will be worth our investment in time, effort and patience. We continue to maintain our communication with the technical team in Mexico to expedite our exploration program on Pino de Plata upon signing of an agreement with the landowner.' As per the terms of the Option Agreement, it remains subject to force majeure until access to field exploration, including diamond drilling, is granted by the landowner agreement. The Company remains current on payment of the requisite property taxes through to the 2nd semester 2024 on Pino de Plata and looks forward to advancing its proposed Phase 1 exploration drilling program. Further technical updates on the El Terrero, La Perla (see Figure 1) and other significant drill targets will be provided to shareholders in due course. Project Background Pino de Plata is located within the western portion of the Sierra Madre Occidental Volcanic Complex within the prominent northwest-trending 'Sonora Gold Belt' of northern Mexico and parallel to the precious metals-rich Mojave-Sonora Megashear. The 397-hectare Pino de Plata Ag-Pb-Zn-Cu-Au concessions are strategically located only fifteen (15) kilometres west from Coeur Mining Inc.'s ('Coeur') Palmarejo open pit and underground operations and is largely surrounded by Coeur through its December 2014 acquisition (valued at US$146 million) of the adjacent San Miguel Project via its all-share transaction with Paramount Gold and Silver. The Property has supported small scale historical production of high-grade mineralization from artisanal workings, though modern exploration is limited to Silver Spruce's 2016-2019 programs, and, of principal note, the project has not yet been drilled. The project area is known to host widespread mineralization at surface with silver values, on average, of greater than 50 g/t Ag, with local targets >500 g/t Ag. Three outcropping target types with attendant moderate to intense alteration include disseminated epithermal, carbonate replacement and significant vein mineralization, each providing high priority, shallow drill targets. Qualified Person Greg Davison, PGeo (BC), Vice-President Exploration & Director, is the Company's internal Qualified Person (QP) and is responsible for the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101"), under TSX guidelines. About Silver Spruce Resources Inc. Silver Spruce Resources Inc. is a Canadian junior exploration company holding 100% interest in the Melchett Lake Zn-Au-Ag project in northern Ontario and the Jackie Au project located <10 kilometres northwest from Minera Alamos' Nicho deposit in Sonora, Mexico. The Company, as noted herein, has signed an amended Option Agreement to acquire 100% interest in the Pino de Plata Ag project located 15 kilometres west of Coeur Mining's Palmarejo Mine in western Chihuahua, Mexico. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration. Contact: Silver Spruce Resources Inc. Greg Davison, PGeo, Vice-President Exploration and Director (250) 521-0444 [email protected] [email protected] Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Notice Regarding Forward-Looking Statements This news release contains 'forward-looking statements,' Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the private placement. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. SOURCE: Silver Spruce Resources, Inc. press release
