Rafael(US:RFL) Globenewswireยท2025-09-24 12:45Core Viewpoint - Terra Clean Energy Corp has entered into definitive agreements to acquire up to a 100% interest in the Wheel Anne Claims and the Green Vein Mesa Claims located in Emery County, Utah, demonstrating the company's commitment to expanding its portfolio of low-risk uranium assets [1][2]. Acquisition Details - For the Wheal Anne Claims, the company will make cash payments totaling USD$233,333, issue 2,500,000 common shares, and incur exploration expenditures of USD$300,000 over five years to earn a 100% interest [3]. - For the Green Vein Mesa Claims, the company will make cash payments totaling USD$116,667, issue 1,250,000 common shares, and incur exploration expenditures of USD$66,667 over five years to earn a 100% interest [4][5]. - Both claims are subject to a 2% net royalty retained by the vendors, with options for Terra Clean to purchase 50% of the royalties for USD$666,666 and USD$333,334 respectively [3][5]. Regulatory and Compliance - The agreements are subject to regulatory approvals, including the approval of the Canadian Securities Exchange, with the "Effective Date" being the date all such approvals are received [6]. - All securities issued in connection with these agreements will be subject to a four-month plus one day hold period from the date of issuance [7]. Marketing Initiatives - Terra Clean has engaged Green Crescent Capital for marketing services, with a one-time fee of USD$5,000 for a one-month term to enhance investment community awareness [8]. - The company has also contracted OTCWagon for a 38-day market awareness program, with a fee of C$7,500, to comply with CSE policies [9]. Company Overview - Terra Clean Energy is a Canadian-based uranium exploration and development company, currently developing the South Falcon East uranium project in Saskatchewan and past producing uranium mines in Emery County, Utah [10].