ValOre sells Angilak uranium project to Labrador Uranium

TSX-V-listed ValOre Metals has entered into a definitive agreement to sell its Angilak uranium project, in Nunavut Territory, to Labrador Uranium for C$3-million in cash and shares worth C$40-million.

As a condition to closing of the transaction, Labrador will complete a subscription receipt financing on a “bought deal basis” for gross proceeds of not less than C$12-million. Upon closing, the subscription receipts will convert to units of Labrador.