VANCOUVER, BC, Dec. 3, 2020 /CNW/ - International Consolidated
Uranium Inc. (the "Company")
(TSXV: CUR) announces that effective December 3, 2020 Leigh Curyer has resigned from
the Company's Board of Directors (the "Board") and has been
appointed to the Company's Advisory Board. The Company also
announces that John Jentz has been
appointed to the Board of Directors, as lead Director, and
Trevor Thiele has resigned from the
Board. Philip Williams, the
Company's CEO, has been appointed Chairman of the Board in place of
Mr. Curyer.
Leigh Curyer commented "Todays changes reflect the next step in
the planned progression of International Consolidated Uranium.
Trevor and myself have overseen the transition of the Company into
a leading consolidator of uranium projects globally and, now that
it is firmly on that path, it's time for the new board to oversee
the business going forward. This coincides with NexGen moving
through final feasibility and permitting in developing the world's
largest uranium project. I look forward to providing advice to the
Company from my new role as a member of the Advisory Board."
Philip Williams, CEO commented
"On behalf of all shareholders, I would like to thank both Leigh
and Trevor for their dedication and contribution over the past
years. Both were instrumental in the formation of the Company and
were champions of the new business model, providing tremendous
vision and tireless effort during the transition process. As a
leading expert in the uranium sector, ensuring Leigh's continued
involvement through his membership on the Advisory Board is
incredibly valuable and important to the Company. Further, I would
like welcome John to the Board. John brings decades of financial
and mining experience, including as a director of North American
Palladium where he oversaw its successful sale to Impala
Platinum."
Mr. Jentz is a seasoned mining professional with board of
director experience, including as the chair of audit committee and
chair of nominating and compensation committee. During his 20+ year
career in mining, Mr. Jentz has held roles both in an operating
company and investment banking. He brings strong knowledge of
mining capital markets and global institutional and HNW/retail
mining investors as well as of all major mining stock exchanges
(TSX, NYSE, LSE, ASX). His broad corporate finance skill base
includes in both public and private markets across all product
areas (equity, M&A, debt, restructuring, quasi-equity,
management / leveraged buyout). Mr. Jentz has a HBSc degree from
the University of Western Ontario, and
MBA from McMaster University and is a
Charted Accountant (CA) and Chartered Professional Accountant
(CPA).
In connection with his appointment to the Board, Mr. Jentz has
been granted incentive stock options to purchase 50,000 common
shares of the Company exercisable at a price of $0.60 per share. The options vest in three equal
annual tranches commencing on the grant date and have a term of
five years. The options were issued pursuant to the Company's
omnibus long-term incentive plan and are subject to regulatory
approval.
About International Consolidated Uranium
International Consolidated Uranium Inc. (formally, NxGold Ltd.)
is a Vancouver-based exploration
company. The Company recently entered into options agreements with
Mega Uranium Ltd. (TSX: MGA) to acquire a 100% interest in the Ben
Lomond and Georgetown uranium
projects in Australia, and
IsoEnergy Ltd. (TSXV: ISO) to acquire a 100% interest in the
Mountain Lake uranium project in Nunavut,
Canada. The Company entered into the Mountain lake option
agreement with IsoEnergy on July 16,
2020 and the transaction remains subject to regulatory
approval. In addition, the Company owns 80% of the Mt. Roe
gold project located in the Pilbara region of Western Australia and has entered into an
earn-in agreement with Meliadine Gold Ltd. to earn up to a 70%
interest in the Kuulu Project (formerly known as the Peter Lake
Gold Project) in Nunavut.
Neither TSX Venture Exchange nor its Regulations Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Statement Regarding "Forward-Looking"
Information.
This news release contains "forward-looking information"
within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is
not limited to, statements with respect to activities, events or
developments that the Company expects or anticipates will or may
occur in the future, including the receipt of regulatory
approval of the Offering, use of proceeds of the Offering,
the size of the Offering and completion of the Offering. Generally,
but not always, forward-looking information and statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation
thereof or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved" or the negative
connation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that regulatory
approval to the Offering will be obtained, that general business
and economic conditions will not change in a material adverse
manner, that financing will be available if and when needed and on
reasonable terms, and 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 or
making forward-looking statements are considered reasonable by
management at the time, there can be no assurance that such
assumptions will prove to be accurate.
Forward-looking information and statements also involve 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 or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, reliance on key
management and other personnel, potential downturns in economic
conditions, actual results of exploration activities being
different than anticipated, changes in exploration programs based
upon results, and risks generally associated with the mineral
exploration industry, environmental risks, changes in laws and
regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company
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.
Reader should also be cautioned that where reference is made
to mineralization of adjacent or near-by properties it is not
necessarily indicative of mineralization hosted on the Company's
Property.
SOURCE International Consolidated Uranium Inc.