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| URNI.OB > SEC Filings for URNI.OB > Form 8-K on 1-May-2009 | All Recent SEC Filings |
1-May-2009
Entry into a Material Definitive Agreement, Financial Statements and
Effective on April 23, 2009, the Board of Directors (the "Board") of Uranium International Corp., a Nevada corporation (the "Company"), authorized the execution of a letter (the "Agreement") with Continental Precious Minerals Inc. ("CPM"). In accordance with the terms and provisions of the Agreement, the Company will purchase a total of thirteen exploration licences covering eight uranium deposits held by CPM in Sweden (collectively, the "Licenses"). The Agreement is subject to due diligence review by the Company, which is to be completed by August 30, 2009. Upon completion of successful due diligence, the Company anticipates closing of the Agreement by approximately August 31, 2009 (the "Closing").
In accordance with the terms and provisions of the Agreement, an initial cash payment of $25,000 will be paid by the Company to CPM (which as of the date of this Agreement has been paid). In furtherance of the terms and provisions of the Agreement and upon completion of satisfactory due diligence and Closing by approximately August 31, 2009: (i) the Company shall make a further cash payment to CPM of $7,500,000; (ii) the Company shall issue to CPM 6,000,000 shares of its restricted common stock; and (iii) the Company shall grant and deliver warrants exercisable to purchase up to 1,000,000 shares of the Company's restricted common stock at the conversion price of $1.00 per share exercisable for a period of two years from the date of issuance.
At the first anniversary date of the Closing, the Company shall make a further payment to CPM of $7,500,000 and CPM will transfer to the Company its right, title and interest to the Licenses.
(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro forma Financial Information.
Not applicable.
(c) Shell Company Transaction.
Not applicable.
(d) Exhibits.
10.1 Letter Agreement dated April 21, 2009, effective April 23, 2009, between Uranium International Corp. and Continental Precious Metals Inc.
99.1 Press Release dated April 30, 2009 of Uranium International Corp.
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