BULLETIN V2025-0962
PATTERSON METALS CORP. ("PAT")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: April 2, 2025
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation relating to a Share Purchase Agreement (the "Agreement") dated March 11, 2025, between the Company, Pendleton Lake Exploration Corp. ("Pendleton Lake"), and an arm's length party (the "Vendor"). Pursuant to the terms of the Agreement, the Company has acquired all of the outstanding share capital of Pendleton Lake Exploration Corp., a holding company that holds the rights to acquire mineral claims commonly known as the Pendleton Lake Uranium Project (the "Project") that covers over approximately 415 hectares of land in Saskatchewan.
As total consideration, the Company will issue 500,000 common shares ("Share Consideration") of the Company at a deemed price of $0.55 per share to the Vendor. Pendleton Lake holds the right and option to acquire 100% of the Project, subject to a 1% royalty on net smelter returns, by completing aggregate exploration expenditures of $500,000 over the next 5 years.
For further information, refer to the Company's news releases dated March 11, 2025, and March 31, 2025.
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