NexGen Energy Converts Loan to Shares
June 29, 2015
VANCOUVER, June 29, 2015 /CNW/ - NexGen Energy Ltd. (TSX-V: NXE) ("NexGen" or the "Company") is pleased to announce that it has entered into a debt settlement agreement (the "Debt Settlement Agreement") with Tigers Realm Minerals Pty Ltd ("Tigers Realm"), a founding shareholder of the Company, pursuant to which the Company agreed to issue 1,652,029 common shares (subject to a four month hold from the day of issuance) to Tigers Realm (approximately 0.66% of the currently issued and outstanding shares of the Company), at a deemed price of $0.82 per share (1 cent higher than the 52 week high at time of signing), to settle a loan made by Tigers Realm to the Company prior to April 2013 to fund incorporation, initial overhead and exploration expenses in the amount of C$1,354,664 (the "Loan"). The Debt Settlement Agreement is subject to TSX Venture Exchange (the "Exchange") approval.
On February 21, 2012, the Company entered into a Shareholder Loan Agreement with Tigers Realm. Under the terms of that agreement, Tigers Realm agreed to advance the Loan to the Company on an unsecured, non-interest bearing basis.
Leigh Curyer, CEO commented "In converting their loan into shares of NexGen, Tigers Realm is demonstrating its ongoing and future commitment. Tigers Realm has been a significant contributor to the success of NexGen to date and with this transaction completed, will be even more levered to the Company's success in the future."
NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of world class uranium deposits and in developing projects from discovery through to production.
NexGen owns a portfolio of highly prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook I, location of the Arrow Discovery in February 2014 and Bow Discovery in March 2015.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of NexGen Energy Ltd., by Garrett Ainsworth, P.Geo., Vice President “ Exploration & Development, a qualified person.
The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, but not always, forward looking information is identifiable by the use of words such as "will" and planned" and similar expressions. Forward-looking information is based on the then current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which it operates. Such information is not a guarantee of future performance and undue reliance should not be placed on forward-looking information. Assumptions and factors underlying the Company's expectations regarding forward-looking information contained herein include, among others: that general business and economic conditions will not change in a material adverse manner; that financing will be available if and when needed on reasonable terms; that the Company's current exploration activities can be achieved and that its other corporate activities will proceed as expected; that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner.
Although the assumptions made by the Company in providing forward looking information are considered reasonable by management at the time the forward-looking information is given, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information also involves known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information, including, among others: risks related to the availability of financing on commercially reasonable terms and the expected use of the proceeds; changes in the market; potential downturns in economic conditions; industry conditions; actual results of exploration activities being different than anticipated; changes in exploration programs based upon results of exploration; future prices of metal; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks; changes in laws and regulations; community relations; and delays in obtaining governmental or other approvals or financing. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. NexGen undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
SOURCE NexGen Energy Ltd.