Common Contracts
1 similar Announces Agreement contracts
TITAN URANIUM ANNOUNCES AGREEMENT TO AMEND PAYMENTS TERMS TO URANIUM ONE FOR SHEEP MOUNTAIN PROPERTYAnnounces Agreement • August 3rd, 2011
Further to such obligations, Titan and U1 have agreed that on August 3, 2011 Titan shall pay to U1 cash in the amount of US$1,000,000 and on July 31, 2012 Titan shall pay to U1 cash in the amount of US$1,000,000 plus accrued interest thereon from July 31, 2011 until the date of payment at a rate equal to 5% per annum. In addition, on August 3, 2011, Titan shall issue to U1 warrants to purchase 500,000 common shares of Titan. Each warrant shall have an exercise price per underlying share equal to the volume weighted average closing price of one common shares of Titan as reporting by the TSX Venture Exchange for the five (5) trading days preceding August 3, 2011 and an expiry date of two years from the date of issuance of the warrants.
