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Future Fuels Provides Update on Acquisition of Mountain Lake Property in Nunavut
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Future Fuels Provides Update on Acquisition of Mountain Lake Property in Nunavut
VANCOUVER, BC / ACCESS Newswire / February 3, 2025 / Future Fuels Inc. (TSXV:FTUR)(FSE:S0J) ("Future Fuels" or the "Company") announced today that, on January 31, 2025, the Company entered into an amendment agreement (the "Amendment") with IsoEnergy Ltd. (TSX : ISO) (OTCQX : ISENF) ("IsoEnergy") regarding its previously announced transaction (the "Transaction") pursuant to the asset purchase agreement dated November 13, 2024 between the Company and IsoEnergy (the "APA"). Under the Amendment, the Company and Future Fuels agreed to extend the outside date for the Transaction under the APA from January 31, 2025 to February 14 ,2025.
In addition, as previously announced in the Company's news release dated December 19, 2024, Future Fuels closed the first tranche of its concurrent private placement in connection with the Transaction on December 19, 2024. Future Fuels has closed the concurrent private placement and will not issue additional securities under a second tranche.
About Future Fuels Inc.
Future Fuels' principal asset is the Hornby Uranium Project, covering the entire 3,407 km² Hornby Basin in north-western Nunavut, a geologically promising area with over 40 underexplored uranium showings, including the historic Mountain Lake Deposit. Additionally, Future Fuels holds the Covette Property in Quebec's James Bay region, comprising 65 mineral claims over 3,370 hectares.
On behalf of the Board of Directors
FUTURE FUELS INC.
Rob Leckie
CEO and Director
[email protected]
604-681-1568
X: @FutureFuelsInc
www.futurefuelsinc.com
SOURCE: Future Fuels Inc.
View the original press release on ACCESS Newswire
D.Ferrer--HdM
