Trans Atlantic Metals AG
Trans Atlantic Metals AG: Conclusion of an agreement between Trans Atlantic Metals AG and Uranium International Corp. (UIC) concerning the development of uranium deposits
Trans Atlantic Metals AG / Contract 24.11.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- www.transatlanticmetals.ch Sonnhaldenstrasse 25 P.O.Box 850 6331 Hünenberg Schweiz - Suisse - Switzerland Tel.: +41 41 560 7107 Fax.: + 41 41 760 92 73 Email: transatlantic@gmx.ch Conclusion of an agreement between Trans Atlantic Metals AG and Uranium International Corp. (UIC) concerning the development of uranium deposits. Hünenberg, 24.11.09. Trans Atlantic Metals AG, with its headquarters in Hünenberg, Switzerland (stock exchange Frankfurt WKN A0MQR9), today announced that final agreement has been reached on a contract between Uranium International Corp. (UIC) and Trans Atlantic Metals AG governing the exploration of Swedish uranium deposits In two phases the UIC will take over up to 80% of the exploration rights from TA Metals AG and will also provide payments in money and shares to TA Metals AG in additional phases, as well as taking over all of the financing involved with the exploration totalling an estimated 3.7 million USD. In the first phase, the UIC will acquire 51% of the exploration rights of TA Metals AG within two years. Within this period of time, the UIC will invest 700,000 USD in the exploration of the site. Afterwards, the UIC will acquire an additional 29% of the exploration rights and will invest an additional 3 million USD in the development of the uranium deposits. In return, TA Metals AG will receive 50,000 USD from the UIC within the first twelve months of the agreement as well as an additional annual amount of 25,000 USD during the period of the contract. Furthermore, TA Metals AG will receive a shares package from the UIC. The concluded agreement represents a milestone in the development of TA Metals AG. The continuous payments which can be expected and the participation in future earnings allow TA Metals AG to take up an excellent position in the future market that is Uranium and an imminent increase in the value of the available assets. The start of production in the Swedish uranium deposits is anticipated to begin after the completion of the exploration work and the feasibility studies. In the future, TA Metals AG will be involved to 20% in the success of production. Uranium International Corp. (OTC-BB: URNI.OB) is an international mining exploration company (www.uraniuminternational.com) with headquarters in London and subsidiaries in New Mexico, USA. The company concentrates on the exploration and the development of uranium resources within its portfolio of significant uranium deposits. Trans Atlantic Metals AG is one of the resource exploration companies based in Switzerland who possess a licence to explore several areas containing Uranium in north and central Sweden, who also possess a licence to carry out additional exploration and who are planning the mining of existing sources. Those who are interested can obtain further information on the company website: www.transatlanticmetals.ch Investor Relations: Contact person Vanessa Harms Harms@privilege-relations.com Privilege Relations LLP Tel + 44 0203 051 1044 Fax + 44 0203 051 1045 Registered Office: 26 Grosvenor Street Mayfair, London W1K 4QW, United Kingdom 24.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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