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Verdera Energy to Sell Its Treeline Project to Americas Uranium in a Cash and Stock Deal

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Verdera Energy (V.V) on Wednesday agreed to sell its Treeline uranium project in New Mexico to Americas Uranium (NUCA.CN).

Americas Uranium will buy the property $100,000 in cash and C$2 million of shares. Verdera added that 90% of the share consideration is payable in staged issuances over three years following closing of the deal. The company will also retain a 1.5% royalty on uranium and any other minerals on the property.

Americas Uranium will also receive a right of first refusal over specified additional mineral rights adjacent to the Treeline property, it said.

Verdera Energy shares last traded Sept. 1, closing at C$0.485 on the TSX Venture Exchange. Shares of Americas Uranium were last seen down 2.6% to C$0.37 on the Canadian Securities Exchange.

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