Senator Minerals Clarifies Terms for Acquisition of Carter Lake Uranium Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 25, 2017) - Senator Minerals Inc. (TSX VENTURE:SNR)(OTC:SNRAF)(FRANKFURT:T1KA) ("Senator" or the "Company") wishes to clarify the terms of its proposed acquisition of the Carter Lake Uranium Project, located in the south-western corner of the Athabasca Basin, Saskatchewan, announced in its news release of April 24, 2017. The Company has entered into a letter of intent with Gunnar Minerals Corp. ("Gunnar"), pursuant to which it proposes to acquire a controlling interest in Gunnar in consideration for a cash payment of Cdn$500,000. Gunnar holds the rights to acquire the Carter Lake Uranium Project.
Readers are cautioned that completion of the acquisition remains subject to due diligence and negotiation of definitive documentation. The acquisition cannot be completed until these conditions are satisfied. There can be no assurance that the acquisition will be completed on the terms disclosed or at all. The Company will provide further information concerning the acquisition as soon as it becomes available.
Tim Fernback, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Information provided in this document is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risk Factors" in the Company's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.