Fulcrum Metals PLC - Canada-focused mineral exploration and development company - Signs letter of intent with Global Energy Metals Corp for an option and royalty agreement regarding its Saskatchewan uranium properties. Fulcrum will receive 5 million common shares in GEMC under the LoI. In addition, a further C$1million, or £587,036 in cash and shares in GEMC would be paid to Fulcrum if the option agreementis exercised by GEMC within a two-year option period.
Chief Executive Officer Ryan Mee says: ‘The letter of intent clearly demonstrates the underlying value Fulcrum has in its uranium portfolio and validates the company’s strategy and management’s approach so far. We have received interest from several companies about the possibility of investing in our uranium projects, either through a joint venture or acquisition. We believe that the agreement with GEMC is in the best interest of all shareholders as we seek to monetise the uranium assets without diluting shareholders and provides Fulcrum with exposure to GEMC’s active battery metal and royalty portfolio.’
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