NewsMega Uranium acquiring Georgetown project
Mega Uranium Ltd (TSX-V:MGA)
Shares Issued 32,023,533
Last Close 11/21/2005 $3.10
Tuesday November 22 2005 - Property Agreement
The TSX Venture Exchange has accepted for filing documentation pertaining to an agreement dated Nov. 16, 2005, between Mega Uranium Ltd., Georgetown Mining Ltd. and O'Rourke Geological Contractors Pty. Ltd. (OGC) -- two arm's-length private Australian companies, whereby the company can acquire up to a 100-per-cent interest of the uranium-molybdenum-fluorite mineralization contained within GML's properties in the Georgetown area of Queensland, Australia (the Georgetown project), including the Maureen uranium-molybdenum-fluorite deposit.
Under the terms of the agreement, the company can earn a 100-per-cent interest in the project by making cash payments totalling $1.1-million (Australian) and issuing 2.1 million common shares of the company.
For further details, please refer to the company's press release dated Nov. 18, 2005.