Kelowna, British Columbia--(Newsfile Corp. - July 20, 2022) - Strathmore Plus Energy Corp. (NEX: SUU.H) (OTC:SUUFF)("Strathmore Plus" or the "Company"), is pleased to announce it has entered into an amending agreement dated July 19, 2022, to the shares-for-services agreement dated January 13, 2022 (collectively, the "Shares for Services Agreement") between the Company and Mr. John Dejoia. Mr. DeJoia acts as technical advisor to the Company in respect of its proposed acquisition of Wyoming Uranium LLC and its 131 lode mining claims totaling 2,706 acres in the Beaver Rim area of the Gas Hills District, Wyoming, USA (the "Acquisition"). The Acquisition remains subject to approval by the TSX Venture Exchange.
Subject to regulatory approval, and pursuant to TSX Venture Exchange ("TSX-V") Policy 4.4, the Company proposes to pay Mr. Dejoia 500,000 common shares of the Company (the "Common Shares") at a deemed price of $0.29 per Common Share and equivalent in value to $145,000 (the "Consideration")based on the closing price of the Common Shares on January 12, 2022 (the last trading day preceding the date of the Shares for Services Agreement). Mr. Dejoia rendered services to the Company beginning in October 2021 by identifying, evaluating and facilitating the Acquisition and, subject to the Consideration, will receive no other compensation for such services. Mr. DeJoia is at arm's length to the Company within the meaning of the policies of the TSX-V, and the value of the Consideration was established through arm's-length negotiation.
Mr. DeJoia, P.Geo, is an experienced geologist having explored and mined through much of the United States, and has extensive experience in the Gas Hills. Dev Randhawa commented; "We are happy to have John on board with his vast exploration and mining experience."
About Strathmore Plus Energy Corp.
Strathmore Plus is a uranium exploration company, focused on in-situ recoverable uranium deposits in the State of Wyoming.
Strathmore Plus Energy Corp.
Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATIONThis press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking information") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, including, without limitation, the issuance of the Consideration, the consummation and timing of the Acquisition, and the timing and receipt of regulatory approvals. Forward-looking information is frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. These forward-looking statements may also include statements regarding perceived merit of mining claims; timelines; strategic plans; market prices for precious and base metals; or other statements that are not statements of fact.
Forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Important factors that could cause actual results to differ materially from the Company's expectations include failure to receive the required regulatory approvals to effect the Transaction; changes in laws, regulations and government practices; risks pertaining to the outbreak of the global pandemics, including COVID-19; government regulation of mining operations; environmental risks; and other risks and uncertainties disclosed in the Company's periodic filings with Canadian securities regulators and in other Company reports and documents filed with applicable securities regulatory authorities from time to time. The Company's forward-looking information reflects the beliefs, opinions, and projections on the date the statements are made. The Company assumes no obligation to update the forward-looking information or beliefs, opinions, projections, or other factors, should they change, except as required by law.
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.
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