VANCOUVER, Jan. 21, 2020 /CNW/ - Uranium Royalty
Corp. (TSX-V: URC) ("URC" or the "Company") is pleased to
announce that its wholly-owned subsidiary has received C$2.65 million (US$2.03
million) from Laramide Resources Ltd. as full repayment of
principal and interest under a promissory note (the "Note").
The Note was acquired by the Company pursuant to a strategic
transaction with Westwater Resources, Inc. in August 2019, whereby URC acquired the Note and a
portfolio of four uranium royalties for total consideration of
$3.68 million (US$2.75 million). The four royalties consisted of
a 4% net smelter return royalty on the Church Rock property, a 30%
net proceeds royalty on a portion of the Dewey-Burdock property, a
4% gross revenues royalty on a portion of the Lance property and a
4% gross revenues royalty on a portion of the Roca Honda
property.
The Company currently has approximately $40 million in cash and marketable
securities.
The Company is also pleased to announce that members of its
senior management and board of directors were invited to close the
Toronto Stock Exchange on Monday, January
20, 2020 to commemorate the recent successful initial public
offering and listing of the Company's shares on the TSX Venture
Exchange (the "TSX-V"). The closing ceremony was held at the
Vancouver Resource Investment Conference.
"We are honored to celebrate our recent listing on the TSX-V. I
would like to thank our shareholders and the entire team for all
the hard work they have put into this achievement," said
Scott Melbye, President and CEO of
URC.
About Uranium Royalty Corp.
Uranium Royalty Corp. is a pure-play uranium royalty company
focused on gaining exposure to uranium prices by making strategic
investments in uranium interests, including royalties, streams,
debt and equity investments in uranium companies, as well as
through holdings of physical uranium. The Company's strategy
recognizes the inherent cyclicality of valuations based on uranium
prices, including the impact of such cyclicality on the
availability of capital within the sector and the current
historically low pricing environment. The Company intends to
execute on its strategy by leveraging the deep industry knowledge
and expertise of its management team and board to identify and
evaluate investment opportunities in the industry. The Company's
management and board include individuals with over 130 years of
combined experience in the uranium and nuclear energy sectors,
including specific expertise in mine finance, project
identification and evaluation, mine development, nuclear fuel
management and uranium sales and trading.
Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in policies of the TSX-V) accepts
responsibility for the adequacy or accuracy of this
release.
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SOURCE Uranium Royalty Corp.