Dark Star Minerals (CSE:BATT) has issued 14 million shares to Critical One Energy (CSE:CRTL) under its definitive agreement to acquire the Cobra North and Khan West projects in the Erongo uranium province of Namibia.
The company, which has a market capitalisation C$3.13 million ($3.47 million), will issue shares at C$0.10 per share.
The agreement has a tenure of two years, with additional cash payments and shared issuances scheduled over the period.
CEO Marc Branson says by issuing shares to Critical One, the company has completed a key milestone in the acquisition of both projects.
“The issuance of these shares reflects our commitment to advancing high-potential uranium assets in Namibia and delivering long-term value to our shareholders,” Branson says.
As reported by Mining.com.au last month (12 August), Dark Star will pay an aggregate US$760,000 to complete the acquisition of prospecting licences EPL 7011, EPL 8115, and EPL 8531, all strategically located proximal to the Rossing Uranium Mine.
Dark Star Minerals is an explorer focused on advancing Canada’s uranium and critical mineral resources to align with the global shift for sustainable energy.
Write to Maddison Elliott at Mining.com.au
Images: Dark Star Minerals
