Uranium Standard Resources Ltd. (TSX VENTURE:USR)(OTCQB:CRSKF) ("Uranium Standard" or the "Company") is pleased to announce that it has entered into an agreement to acquire a proprietary Uranium Project Database from Vico Uranium Corp. ("Vico"), a private British Columbia corporation. The database, which was developed and maintained over the last ten years, contains detailed information on over 1,000 uranium projects globally. Uranium Standard plans to utilize this database to execute its strategy of acquiring a substantial portfolio of high-quality uranium resources at deeply discounted valuations.
The database has been developed and maintained by Vico Uranium Corp. and its principals, chiefly Canon Bryan, the President, CEO and Director of Vico. In addition to a robust data set on over 1,000 uranium projects worldwide, the database also consists of hundreds of historical technical reports, maps and other reference materials with information on virtually every known anomalous uranium occurrence on earth. It has been updated daily since 2004. This database will provide the foundation for Uranium Standard's mergers and acquisitions strategy.
Canon Bryan has been active in the commercial nuclear power industry since 2004. In addition to his role as Chief Financial Officer of Uranium Standard, he is also the Chief Financial Officer, Director and co-founder of Terrestrial Energy Inc., a developer of advanced nuclear reactor technology in Canada. Mr. Bryan was also a co-founder and the Vice President of Corporate Development of Uranium Energy Corp. (NYSE:UEC), a producer of uranium in the USA.
As consideration for the acquisition of the Uranium Project database, the Company will issue 2,000,000 common shares of Uranium Standard to Vico. This transaction is subject to TSX Venture Exchange approval.
Arni Johannson, President, CEO and Director of Uranium Standard made this comment on the acquisition: "Our initiative to grow a substantial portfolio of high value uranium assets stems from highly educated due diligence and access to industrial intelligence. There are many uranium projects in the world, there are fewer uranium deposits, and there are even fewer viable uranium deposits. Through this acquisition, our team can and will select only premier proven deposits with corroborating data that will allow Uranium Standard to distinguish itself as a best-in-class uranium asset aggregator".
Canon Bryan added: "This is an industrial database that has no equal in the uranium sector. This tool gives Uranium Standard a strong, unrivaled advantage in its acquisition strategy. I look forward to unlocking the value of this database with Uranium Standard."
About Uranium Standard Resources Ltd.
Uranium Standard Resources is a resource acquisition and development company listed on the TSX Venture Exchange with the ticker USR, and on the OTCQB with the ticker CRSKF. The objective of Uranium Standard is to acquire a substantial portfolio of high quality uranium resources at deeply discounted valuations. Uranium Standard will realize value by investing selectively in these resources, and by participating in a commodity price recovery. Management of Uranium Standard has a track record of success in the resource sector, and particularly the uranium sector.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.