Core Viewpoint - Bayridge Resources has entered into a binding share purchase agreement to acquire a 51% stake in Privco, which owns the Baker Lake uranium project, for a total transaction value of $1.4 million through the issuance of 5,600,000 common shares priced at $0.25 each [1][4]. Group 1: Acquisition Details - The acquisition involves a joint venture agreement between Bayridge and Privco on standard industry terms [1]. - After the acquisition, Bayridge will have a first right of refusal over the remaining 49% of Privco shares [4]. - The owners of Privco will hold a 43% interest in Bayridge Resources post-transaction [4]. Group 2: Project Overview - The Baker Lake uranium project is located in the Kivalliq Region of Nunavut, Canada, covering 619 km² with 83 contiguous claims [2]. - The project is situated within a significant uranium district that includes other notable deposits [2]. - Modern exploration activities valued at $7 million have been conducted at the site, revealing strong geological parallels to the Angilak uranium camp [2]. Group 3: Exploration Potential - A 2008 survey identified 30 high-priority uranium targets, with historical drilling showing multiple significant uranium intercepts [3]. - Bayridge has mapped 20 uranium prospects along 75 km of the Baker Basin unconformity, with several unexplored high-priority drill targets remaining [3]. - The company will have the right to appoint one director to Privco's board, and Privco may appoint one director to Bayridge's board [3].