Bayridge to acquire 51% interest in Baker Lake uranium project

Bayridge Resources has signed a binding share purchase agreement to acquire 51% of 1461433 B.C. (Privco), which owns 100% of the Baker Lake uranium project, an advanced exploration asset in the Kivalliq Region of Nunavut, Canada. As consideration for the acquisition, Bayridge will issue 5,600,000 common shares priced at $0.25 each, valuing the transaction at $1.4m. At closing, Bayridge will enter into a joint venture (JV) agreement with Privco on standard industry terms. The project lies within the Pale ...