Greenridge Exploration Inc. (CSE: GXP) and ALX Resources Corp. (TSXV: AL) (OTC: ALXEF) announced in a press release today the signing of a non-binding letter of intent dated September 4, 2024, pursuant to which Greenridge will acquire all of the outstanding and issued common shares of ALX.
This proposed transaction is an arm’s length transaction to create a leading Canadian uranium exploration company with interests in 15 uranium exploration projects totaling approximately 276,000 hectares across renowned Canadian uranium districts, including the Athabasca Basin, Thelon Basin and Elliot Lake. The combined entity will have interests in an additional 13 lithium, nickel, gold and copper properties across Canada.
Shares of both Greenridge and ALX were trading higher in heavy morning activity.
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