Macusani Yellowcake and Azincourt Uranium Extend Letter of Intent for Consolidation of Peruvian Properties
31 May 2014 - 9:45AM
Marketwired
Macusani Yellowcake and Azincourt Uranium Extend Letter of Intent
for Consolidation of Peruvian Properties
TORONTO, ONTARIO--(Marketwired - May 30, 2014) - Macusani
Yellowcake Inc. (TSX-VENTURE:YEL)(FRANKFURT:QG1) ("Macusani") and
Azincourt Uranium Inc. (TSX-VENTURE:AAZ)(FRANKFURT:A0U)
("Azincourt") announce that, further to their joint news release of
April 17, 2014, they have agreed to extend their non-binding letter
of intent ("LOI") to June 15, 2014 to allow both parties to
conclude their ongoing due diligence investigations and settle the
form of definitive agreement for the transaction. All other terms
of the LOI remain unchanged.
About Macusani Yellowcake Inc.
Macusani Yellowcake Inc. is a Canadian uranium exploration and
development company focused on the exploration of its properties on
the Macusani Plateau in southeastern Peru. The company owns a 99.5%
interest in concessions that cover over 90,000 hectares (900 km2)
and are situated near significant infrastructure. Macusani is
listed on the TSX Venture Exchange under the symbol 'YEL' and the
Frankfurt Exchange under the symbol 'QG1'. The company has
159,473,613 shares outstanding. For more information please visit
www.macyel.com.
Facebook: www.macyel.com/facebook/
Twitter: www.twitter.com/macusani/
About Azincourt Uranium Inc.
Azincourt Uranium Inc. is a Canadian based resource company
specializing in the strategic acquisition, exploration and
development of uranium properties and is headquartered in
Vancouver, British Columbia. Azincourt has advanced exploration
projects and compliant uranium resources in southeastern Peru and
the PLN exploration project joint venture with Fission 3.0 in
northern Saskatchewan.
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Information
This news release includes certain forward-looking
statements concerning the future performance of Macusani's and
Azincourt' business, operations and financial performance and
condition, as well as management's objectives, strategies, beliefs
and intentions. Forward-looking statements are frequently
identified by such words as "would", "may", "will", "plan",
"expect", "anticipate", "estimate", "intend" and similar words
referring to future events and results. Forward-looking statements
are based on the current opinions and expectations of management.
All forward-looking information is inherently uncertain and subject
to a variety of assumptions, risks and uncertainties, including the
speculative nature of mineral exploration and development,
fluctuating commodity prices, competitive risks and the
availability of financing, as described in more detail in the both
companies recent securities filings available at www.sedar.com.
Actual events or results may differ materially from those projected
in the forward-looking statements and Macusani and Azincourt
caution against placing undue reliance thereon. Specifically, there
is no assurance that (i) the proposed Transaction between Macusani
and Azincourt will be completed on the terms outlined, or at all;
(ii) that any of the anticipated synergies pertaining to combining
their respective Peruvian properties will be realized in the manner
outlined above, or at all. Neither the companies nor their
management assume any obligation to revise or update these
forward-looking statements.
Macusani Yellowcake Inc.Laurence StefanPresident &
CEO416-628-9600laurence@macyel.comwww.macyel.comAzincourt Uranium
Inc.Ted O'ConnorPresident &
CEO604-662-4955ted@azincourturanium.comAzincourt Uranium Inc.Mario
VetroCorporate Development and Investor RelationsDirect:
604-662-4955mario@azincourturanium.comwww.azincourturanium.com
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