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Yellow Cake to sell uranium to URC after £7.28m option is exercised
StockMarketWire.com
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Uranium-specialist Yellow Cake has announced that Uranium Royalty Corp (URC) has elected to exercise its option to purchase US$10m (£7.28m) worth of U3O8 from the firm.
Delivery is expected to take place on or around 30 April 2021.
As part of the subscription agreement entered into at the time of Yellow Cakes initial public offering, the firm granted URC an option to acquire between US$2.5m (£1.82m) and US$10m (£7.28m) worth of U3O8 per year in each of the nine calendar years commencing on 1 January 2019, up to a maximum aggregate amount over such nine year period of US$31.25m (£22.78m) worth of U3O8.
At 2:55pm: (LON:YCA) Yellow Cake Plc Ord Gbp0.01 share price was 0p at 196p
Story provided by StockMarketWire.com
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