Pure Energy Minerals Ltd.: Pure Energy Purchases Underlying Royalty at Clayton Valley
Vancouver, British Columbia (Newsfile Corp. - May 31, 2021) - Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) (the Company or Pure Energy ) is pleased to report that it has acquired a net smelter returns ( NSR ) production royalty applicable to certain properties owned by Pure Energy at the Clayton Valley project, Nevada. The 2% NSR royalty, previously held by a private trust, covers 345 placer claims in Esmeralda County, Nevada. The purchase of the underlying royalty removes any future obligation by Pure Energy Minerals for royalty payments on these properties.
The purchase price consists of 75,000 common shares in Pure Energy stock and payment of US$30,000 to TR Trust in consideration for TR Trust s right, title and interest, as well as a 2% NSR royalty interest, in a Share Purchase Agreement dated February 15, 2016 between Lithium X Energy Corp. ( Lithium X ), 1061582 B.C. Ltd. and LT Capita
This Skyharbour Resources profile is part of a paid investor education campaign.
Overview
Industry experts expect uranium prices to rise and the nuclear industry resurgence to start accelerating as uranium continues to play an integral role in the generation of clean, base-load, affordable and reliable energy globally. Despite a predicted demand for uranium topping 180 million pounds in 2020, a major supply-side response has played out in recent years and supply deficits have continued to grow. As uranium is needed for nuclear power, exploration and development companies focused on uranium-based assets could benefit significantly in the coming years as renewed investor interest comes back to the sector.