AZARGA URANIUM CORP. (TSX:AZZ) (“Azarga Uranium” or the “Company”) has issued 837,500 Class A common shares of Azarga Uranium (each, a “Share”) at a deemed price of C$0.23 per Share to settle outstanding obligations owing to an independent consultant and an insider of the Company, further to the Company’s news release on 7 July 2017.
The issuance of the Shares to settle the outstanding obligations is consistent with the Company’s strategy of preserving cash. The issuance of the Shares is subject to final approval from the Toronto Stock Exchange.
About Azarga Uranium Corp.
Azarga Uranium is an integrated uranium exploration and development company that controls six uranium projects, deposits and prospects in the United States of America (South Dakota, Wyoming and Colorado) and the Kyrgyz Republic. The Dewey Burdock in-situ recovery uranium project in South Dakota (the “Dewey Burdock Project”), which is the Company’s initial development priority, has received its Nuclear Regulatory Commission License and draft Class III and Class V Underground Injection Control (“UIC”) permits from the Environmental Protection Agency (“EPA”) and the Company is in the process of completing other major regulatory permit approvals necessary for the construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA.
Source: Azarga Uranium Corp.