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Vancouver, British Columbia--(Newsfile Corp. - March 12, 2024) - OBERON URANIUM CORP. (CSE: OBRN) ("Oberon" or the "Company") is pleased to announce that, further to its news release dated March 1, 2024, it has closed the sale of its Element 92 Uranium Property, comprised of a single Saskatchewan mineral claim number covering 5,961 hectares located in northern Saskatchewan, Canada, on the southern end of the Athabasca region (the "Property").
Pursuant to a property purchase and sale agreement dated March 1, 2024 (the "Agreement") with Forty Pillars Mining Corp. (CSE: PLLR) ("Forty Pillars"), as consideration for the Property Forty Pillars paid to Oberon $10,000 in cash and issued 2,000,000 common shares of Forty Pillars (each, a "Share") at a deemed price of $0.07 per Share, representing aggregate Share consideration of $140,000. The Shares are subject to a four month hold period in accordance with applicable securities laws.
Following closing of the transaction, Oberon is now an insider of Forty Pillars, with the 2,000,000 Shares received by Oberon under the transaction representing approximately 17.26% of the 11,587,530 issued and outstanding common shares of Forty Pillars, on an undiluted basis. Prior to the transaction, Oberon did not hold any securities of Forty Pillars. Depending on the circumstances, Oberon may, from time to time, acquire additional securities or related financial instruments of Forty Pillars or dispose of all or a portion of the securities or related financial instruments of Forty Pillars previously acquired. Other than the foregoing, Oberon does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.
The Form 62-103F1 - Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from Forty Pillars' profile on SEDAR+ at www.sedarplus.ca. To obtain a copy of the report, please contact Lawrence Hay, President and CEO of Oberon, at the contact details described below.
About the Company
Oberon Uranium Corp. is a mineral exploration company with a 100% interest in the past producing Lucky Boy Uranium Property located in Arizona, USA. Oberon also owns a 100% interest in the Fusion Uranium Zone Project located in the Athabasca Region of Saskatchewan, Canada. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at info@oberonuranium.com.
On Behalf of the Board of Directors
"Lawrence Hay"
President and CEO
Tel: 778.317.8754
Email: info@oberonuranium.com