Uranium One Mining Corp. (CSE: UUU) has announced an amending agreement to its previously disclosed share exchange agreement with 1583644 B.C. Ltd., modifying key terms related to the planned acquisition of the Foghorn and Pasfield Lake Properties. The amendment, dated effective October 27, 2026, revises the deemed price per consideration share and extends the transaction's termination date. Investors may be watching closely as the company pursues a dual-property acquisition spanning British Columbia and northeastern Saskatchewan.

Key Points

  • Uranium One Mining Corp. (CSE: UUU | OTCID: UUUFF | Frankfurt: SL51) announced an amending agreement effective October 27, 2026
  • The deemed price per consideration share was reduced from $0.35 to $0.20, with the aggregate 27,060,000 consideration shares remaining unchanged
  • The transaction termination date has been extended from September 30, 2026 to October 31, 2026, pending Canadian Securities Exchange approval
  • Investors should watch for CSE approval of the amended terms and concurrent closing of the property purchase agreements

Key Changes Under the Amending Agreement

The amending agreement introduces several material revisions to the original share exchange agreement dated June 26, 2026. Notably, the deemed price per consideration share has been reduced from $0.35 to $0.20, while the total number of 27,060,000 common shares of Uranium One to be issued remains unchanged. The amendment also revises the allocation of 8,900,000 NumberCo shares issuable under the Foghorn Purchase Agreement, now split between 0782618 B.C. Ltd. and Bua Capital Management Ltd., subject to CSE approval. Corrections to the description of the Foghorn Property were also incorporated, and the previously disclosed C$250,000 cash amount is confirmed to represent assignment fees already paid by the company.

Foghorn Property: Historical Polymetallic Project in British Columbia

The Foghorn Property is a historical polymetallic exploration project in British Columbia comprising approximately 40 Crown-granted mineral claims covering approximately 614 hectares. Historical work dating to the early 1900s includes geological mapping, drilling, underground development, and metallurgical testing targeting uranium, fluorite, and other critical minerals. The company notes it has not independently verified this historical information. The property will carry a 3% net smelter returns royalty, with a buyback right for up to 1.5% for a maximum aggregate buyback price of C$1,500,000.

Pasfield Lake Property: Uranium Exposure in Saskatchewan

The Pasfield Lake Property consists of a prospecting permit covering approximately 4,400 hectares in northeastern Saskatchewan, situated roughly 100 kilometres northwest of the Collins Bay mining area and 60 kilometres northwest of the Cigar Lake Mine. The release states the area is considered prospective for unconformity-related uranium mineralization. The property is subject to an existing 2% net smelter returns royalty in favour of Canterra Minerals Corporation, with a buy-down right to 1% upon payment of C$1,000,000. The company notes that mineralization on nearby properties is not necessarily indicative of mineralization on the Pasfield Lake Property.