GoviEx Uranium Inc. has agreed with Toshiba Corp. to extend the date of settlement under the termination agreement and mutual release to April 30, 2018. Toshiba also has agreed to extend the completion of the share purchase agreement with a mutually agreed third party investor. The execution of the agreement and the SPA were both originally announced on March 2, 2018.
The agreement sets out the terms under which GoviEx and Toshiba have agreed to settle the Tranche B bond dated April 18, 2012, as amended; terminate the sale and purchase of uranium concentrates agreement dated April 18, 2012, as amended; and provides for the parties’ mutual release to each other in accordance with the terms and conditions of the agreement.
All parties have agreed to the extension in order to allow for the completion of various administrative procedures required to effect all of the conditions precedent to the agreement and SPA. The agreement and the SPA are expected to close concurrently.
About GoviEx Uranium Inc.
GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx’s principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela project in Niger, its mine-permitted Mutanga project in Zambia and its other uranium properties in Africa.