Verdera Energy Corp. has entered into a definitive agreement to sell a 100% interest in the Treeline Uranium Project in New Mexico to Americas Uranium Corp.

Under the terms of the transaction, Verdera will receive US$100,000 in cash on closing alongside C$2,000,000 in common shares of Americas Uranium. Staged share issuances over the 36 months following closing will account for 90% of the share consideration. In addition, Verdera will retain a 1.5% net proceeds royalty on uranium and a 1.5% net smelter returns royalty on other minerals produced from the property, with an option for the buyer to reduce the royalties to 1.0% by paying C$400,000. Americas Uranium also secures a right of first refusal over specified additional mineral rights adjacent to the project.

The transaction divests an early-stage exploration property carrying a historical estimate of 1,020,000 pounds of U3O8 from January 2005, which is historical in nature and does not meet current NI 43-101 standards.

The stock is currently trading at $0.485, up 15.48%.

Verdera holds a proprietary database containing over 150,000 drill hole logs assembled through the acquisition of the Kerr-McGee New Mexico database and the enCore Energy transaction. The company is directing its operational focus toward advancing its core portfolio, including an ongoing independent NI 43-101 technical report and exploratory drilling at the 100% owned West Largo Project.

"The Treeline Uranium Project transaction is an example of the potential wealth of opportunities available to Verdera from the New Mexico database acquired through the enCore Energy transaction and acquisition of the Kerr McGee New Mexico database. While Treeline is a good exploration project with potential to expand the historic mineralization previously outlined, Verdera's business plan is to focus on advancing its four large-scale properties with historical resources established by name-brand oil companies. This transaction provides immediate value to the Company and its shareholders on a property not in our project pipeline. At Verdera, our team continues to advance our key projects including a NI 43-101 technical report underway on the West Largo Project while we data-mine the vast database, containing over 200,000 drill hole logs, for additional opportunities." — Janet Lee-Sheriff, Chief Executive Officer

Verdera continues to advance its broader pipeline across New Mexico as part of its strategy to develop its core uranium assets.

Read the full announcement: Verdera Energy Announces Sale of Treeline Project, New Mexico